The transformation of shape-memory alloys to high-temperature shape-memory alloys can be achieved through either the addition of alloying elements or heat treatment. However, heat treatment is more effective in improving the properties of the alloys. This research paper explores the impact of annealing on the mechanical and shape memory properties of Cu–Al–Ni shape memory alloys. The alloys were first cast, homogenized, and then machined before being aged at temperatures of 250, 300, and 350°C, and finally air-cooled. The results showed an increase in transformation temperature and recovery strain, as well as shape memory effect, and a decrease in hardness. Moreover, there was an increase in yield stress and strain. In conclusion, aging was found to improve the shape memory properties and mechanical properties better than thermomechanical treatment and some alloying elements.