The shape memory alloy strips of Ti50Ni15Cu35 and Ti50Ni10Cu40 had been fabricated by arc melt overflow. Their microstructures and shape memory characteristics were investigated by means of X-ray diffraction, optical microscopy and differential scanning calorimetries. The microstructure of as-cast strips exhibited columnar grains normal to the strip surface. X-ray diffraction analysis showed that one-step martensitic transformation of B2-B19 occurred in the alloy strips. According to the DSC analysis, it was known that the martensitic transformation temperature (Ms) of B2→B19 was 71.2°C in Ti50Ni15Cu35 and 64.5°C in Ti50Ni10Cu40 alloy strip, respectively. During thermal cyclic deformation with the applied stress of 60 MPa, transformation hysteresis and elongation associated with the B2-B19 transformation were observed to be 4.9°C and 1.4% in Ti50Ni15Cu35 alloy strip. However, Ti50Ni10Cu40 alloy strip was so brittle that its mechanical properties could not be measured.