In this paper, a finite mixture distribution of two-component Topp-Leone Rayleigh lifetime model is introduced. Maximum likelihood and Bayes estimators are derived for the unknown parameters, mixing proportion, reliability and hazard rate functions based on Type II censored samples from the mixture distribution. Confidence and credible intervals for the parameters, mixing proportion, reliability and hazard rate functions are obtained. Bayesian estimation is considered under balanced error loss function. A numerical illustration is carried out to investigate the precision of the maximum likelihood and Bayes estimates. An application using real data is used to insure the simulated results.