A novel, environmentally friendly, fast, and flexible polishing process for Nitinol parts is presented in this study. Nitinol samples with both superelastic and shape memory properties at room temperature were investigated. The chemical contamination and surface roughness of superelastic Nitinol plates were examined before and after plasma electrolytic polishing. The shift in phase transformation temperature and tensile strength before and after the polishing process were analysed using Nitinol wire with shape memory properties. The obtained experimental results were compared to the data obtained on reference samples examined in the as-received condition. It was found that plasma electrolytic polishing, when the right process parameters are applied, is capable of delivering Nitinol parts with extremely high surface quality. Moreover, it was experimentally proven that plasma electrolytic polishing does not have a negative impact on functionality or mechanical properties of polished parts.