Effect of annealing temperature (θa) on the transformation and the low temperature deformation characteristics in the deformed Ti-51.1Ni (Atomic fraction, %) shape memory alloy (SMA) are investigated by differential scanning calorimetry (DSC) and tensile test. The results shows that the transformation types of Ti-51.1Ni alloy change from A→R / M→R→A to A→R→M / M→R→A to A→R→M / M→A ( A-parent phase B2, R-R phase, M-martensite phase) upon cooling / heating along with increasing annealing temperature,. The R transformation temperatures (θ_R) and martensite (M) temperature hysteresis (_?θ_M) decrease, the M transformation temperature increases, and the R temperature hysteresis (_?θ_R) does not nearly change as about 6.5℃. When deformed at 10 ℃, the 400-550 ℃ annealed Ti-51.1Ni SMA shows shape memory effect (SME) + superelasticity (SE), the 600-700 ℃ annealed Ti-51.1Ni SMA shows SE, and the characteristics of alloy change from SME SE to SE. In addition, the annealing recrystallization temperature of Ti-51.1Ni SMA were 590 ℃, and the 590-650 ℃ annealed alloy could be obtained excellent capability of plastic deformation and 50.83 %Svalues of fractureSstrain, so the molding processing temperature could be selected at 590~650 ℃. When the Ti-51.1Ni alloy are used for production energy consumption ofSdamper and damping device, the suitable annealing temperature could be selected at more than 550℃, and making of superelasticSdevice, the suitable annealing temperature could be selected at 400 ℃ less and 600 ℃ more.