A determination of the initial mass function (IMF) of the current, incomplete census of the 10 Myr-old TW Hya association (TWA) is presented. This census is built from a literature compilation supplemented with new spectra and 17 new radial velocities, as well as a re-analysis of Hipparcos data that confirmed HR 4334 (A2Vn) as a member. Though the dominant uncertainty in the IMF remains census incompleteness, a detailed statistical treatment is carried out to make the IMF determination independent of binning, while accounting for small number statistics. The currently known high-likelihood members are fitted by a log-normal distribution with a central mass of $0.21^{+0.11}_{-0.06}$ $M_{odot}$ and a characteristic width of $0.8^{+0.2}_{-0.1}$ dex in the 12 $M_{rm Jup}$-2 $M_{odot}$ range, whereas a Salpeter power law with $alpha = 2.2^{+1.1}_{-0.5}$ best describes the IMF slope in the $0.1-2$ $M_{odot}$ range. This characteristic width is higher than other young associations, which may be due to incompleteness in the current census of low-mass TWA stars. A tentative overpopulation of isolated planetary-mass members similar to 2MASS J11472421-2040204 and 2MASS J11193254-1137466 is identified: this indicates that there might be as many as $10^{+13}_{-5}$ similar members of TWA with hot-start model-dependent masses estimated at $sim$ 5-7 $M_{rm Jup}$, most of which would be too faint to be detected in 2MASS. Our new radial velocity measurements corroborate the membership of 2MASS J11472421-2040204, and secure TWA 28 (M8.5$gamma$), TWA 29 (M9.5$gamma$) and TWA 33 (M4.5e) as members. The discovery of 2MASS J09553336-0208403, a young L7-type interloper unrelated to TWA, is also presented.
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