Porous Ti51Ni(49-x)Mox (x=0, 0.7, 1.0, 1.2) shape memory alloys were successfully fabricated by the self-propagating high-temperature synthesis (SHS) method. The effect of Mo content on microstructures, transformation characteristics and compressive properties of porous TiNiMo alloys was investigated systemically. It has been found that Mo doping into porous TiNi alloys will induce R phase transformation. A small amount of Mo addition (0.7at.%) improves compressive properties of porous TiNiMo alloy due to Mo solution strengthening and the obvious ductile fracture is observed on the fracture photography. However, the compressive strength and compressive strain of porous TiNiMo alloys with excessive Mo content decrease sharply and the failure manner turned into brittle fracture mode, which results from a large amount of Ti2Ni and Ti4Ni2O phases precipitated at grain boundary. Porous Ti51Ni48.3Mo0.7 alloy with suitable transformation temperature and high compressive strength is very promising for use as biomaterial and damping material.