FeMnSi-based alloys exhibit a shape-memory effect associated with deformation-induced £ ¼ ¾ martensitic transformation and its reversion. The £ ¼ ¾ martensitic transformation also enhances mechanical properties, such as strength, hardness, wear-resistance and low-cycle fatigue lives of the alloys. In this article, we review fundamental researches on transformation behavior, microstructural and crystallographic characteristics, and functional and mechanical properties of the FeMnSi-based alloys, and introduce various examples of their practical applications. A special emphasis is placed on their new application as architectural seismic dampers, which were developed based on a new finding of the passive two-way martensitic transformations under cyclic tensile-compressive loading.