Martensitic phase transformation can greatly affect the mechanical behaviors and the stress-strain response of shape memory alloys (SMAs). In this study, the effect of martensitic phase transformation on the deformation of a single-crystal TiNi SMA specimen with a triangle crack was investigated experimentally by means of moiré interferometry method. A typical displacement field and the corresponding strain field in areas both around and far from the tip of the crack were measured in a certain time during the loading process in which the tensile load is coupled with the stress-induced martensitic phase transformation. Some characteristics of the deformation and the martensitic phase transformation of the specimen are revealed. These results may provide a reliable support for revealing the fracture mechanism of single crystal TiNi SMAs, and may enable further development in putting forward the failure criterion of SMAs.