A previously established micromechanical model whose capability to analyze and predict the behavior of thermoinelastic fibrous composites with one-way thermomechanical coupling, in which the temperature is prescribed in advance, was verified. This model is extended herein to incorporate two-way thermomechanical coupling effects in thermoinelastic composites. As a result of this generalization, the temperature which is coupled to the mechanical effects, is governed by the energy equation and is induced into the composite's constituents as a result of the application of mechanical loadings. The model is applied to predict the behavior of composites that consist of shape memory alloy fibers embedded in metallic and polymeric matrices. Results exhibit the response of the composites to various types of loading, and the effect of the two-way thermomechanical coupling that induces temperature deviations from reference temperatures at which shape memory and pseudoelasticity effects take place at the fibers.