The review on effect of a high strain rate on the properties of TiNi-shape memory alloys is presented. The study of thermo-mechanical and functional properties of SMA after high strain rate loading was carried out. The object of study was an equiatomic TiNi shape memory alloy. The samples were tensioned at a strain rate of about 103s-1at various temperatures in martensitic, austenitic, and two-phase state, using the Split Hopkinson Pressure Bar technique. Two-way shape memory effects were investigated. Two-way shape memory after high strain rate loading was less than after the quasi-static one for all cases, except for straining in martensitic state.