The results of investigations of physico-mechanical properties of specimens made from the structural Mg-based alloy (Russian grade Ма2-1) in its coarse-grained and ultrafine-grained states after SPD processing are presented. To form the ultrafine-grained structure, use was made of the method of orthogonal equal-channel angular pressing. After four passes through the die, a simultaneous increase was achieved in microhardness, yield strength, ultimate tensile strength and elongation to failure under conditions of uniaxial tensile loading.