The mechanical behavior of the binary polycrystalline NiTi alloy with a quasi equilibrium struc ture has been considered in the course of the high strain rate extension in a temperature range of 20-300°C. The quasi equilibrium structure, which is necessary to ensure the long term stability of special properties of the alloy, was achieved using aging, after which both the forward and reverse martensitic transformations exhibited a multistage character and the phase composition at room temperature was characterized by the presence of R and B19' martensites. To separate the contributions that come from the equilibrium structure and from the high rate of tension to the mechanical behavior of the alloy, a comparative analysis of the dia grams of high strain rate and quasi static tension has been performed. It has been shown that the action of several mechanisms of reversible deformation is determined by the specific features of the equilibrium struc ture, and the level of stresses at which these mechanisms are developed is controlled by the rate of tension. The results of the X ray diffraction study of the phase composition of the alloy samples after high strain rate tension, which make it possible to conclude that the mechanical behavior of martensite and austenite upon the dynamic tension of the alloy is determined by the development of stress induced R → B19', B2 → R, and B2 → B19' transformations and by the processes of the detwinning and reorientation of crystals of B19' mar tensite, are given.