© 2015 World Scientific Publishing Company.Bismuth telluride (Bi2Te3) is one of the most intricate materials with its semiconducting, insulating and pressure-induced superconducting properties. Although different theoretical works have been carried out to understand the confusing properties of Bi2Te3, information about the high pressure structural, elastic, mechanical and phonon properties of this significant material is still rare. Unlike earlier theoretical approaches, two-body interatomic potentials in the Morse potential form have been employed for the first time to predict the density, phase transition pressure, elastic constants, bulk, shear and Young moduli and elastic wave velocities of Bi2Te3 under pressures up to 12 GPa. α → β phase transition pressure of Bi2Te3 was found to be 10 GPa. The results of above elastic quantities agree well with experiments and are better than some of the published theoretical data. In addition, the effect of pressure on the phonon dispersion and density of states (DOS) were also evaluated with the same potential and their results are satisfactory, especially for the low-frequency acoustic portions of phonons.