Brittleness and low working temperature are two key factors that restrict the application of Ni-Mn-Sn alloys. Element doping is an effective means to improve performance of materials. In present paper, martensitic transformation (MT) and mechanical properties of Ni 48 Mn 39 Sn 13−x Tb x (x = 0, 0.5, 1, 2, and 5 at.%) alloys are investigated. It is found that the Tb addition refines significantly the grains and causes the formation of a Tb-rich phase. All the samples undergo the martensitic transformation from parent phase to martensite. And the martensitic transformation characteristic temperatures increase remarkably from −60.7 • C for x = 0 to 364.1 • C for x = 5. The appropriate amount of Tb addition in Ni 48 Mn 39 Sn 13−x Tb x (x = 0, 0.5, 1, 2, and 5 at.%) alloys significantly enhances the compressive strength and improves the ductility, which can be ascribed to the grain refinement. The compressive stress of 571.8 MPa and strain 22.0% are obtained in the Ni 48 Mn 39 Sn 11 Tb 2 alloy. Then the mechanical properties decrease with the further increased Tb content. Simultaneous improving of martensitic transformation temperature and mechanical properties in Ni-Mn-Sn magnetic alloy are achieved by Tb doping.