A new method was developed for producing highly porous NiTi for use as an implant material. The combination of the space‐holder technique with the metal injection molding process allows a net‐shape fabrication of geometrically complex samples and the possibility of mass production for porous NiTi. Further, the porosity can be easily adjusted with respect to pore size, pore shape, and total porosity. The influence of the surface properties of powder metallurgical NiTi on the biocompatibility was first examined using human mesenchymal stem cells (hMSCs). It was found that pre‐alloyed NiTi powders with an average particle size smaller than 45 μm led to the surface properties most suitable for the adhesion and proliferation of hMSCs. For the production of highly porous NiTi, different space‐holder materials were investigated regarding low C‐ and O‐impurity contents and the reproducibility of the process. NaCl was the most promising space‐holder material compared to PMMA and saccharose and was used in subsequent studies. In these studies, the influence of the total porosity on the mechanical properties of NiTi is investigated in detail. As a result, bone‐like mechanical properties were achieved by the choice of Ni‐rich NiTi powder and a space‐holder content of 50 vol% with a particle size fraction of 355–500 μm. Pseudoelasticity of up to 6% was achieved in compression tests at 37 °C as well as a bone‐like loading stiffness of 6.5 GPa, a sufficient plateau stress σ25 of 261 MPa and a value for σ50 of 415 MPa. The first biological tests of the porous NiTi samples produced by this method showed promising results regarding proliferation and ingrowth of mesenchymal stem cells, also in the pores of the implant material.