Recent progress in research on the characteristics, influencing factors and engineering applications of TiNi alloys superelasticity (SE) was reviewed. The review mainly includes the characteristics and engineering significance of TiNi alloy SE, the effects of chemical composition, heat treatment, and working process on TiNi alloy SE, and the applications of TiNi alloy SE in passive control of structural vibration and wear-resistance. Shortcomings and future researching fields were also pointed out.