This paper explores the properties of Fe40NiCrSiAl alloy treated by different methods. The hardness, elastic modulus and resistivity are tested. The results indicate that: after LSP to rolled Fe40NiCrSiAl alloy, the hardness increased 25.22%, the elastic modulus increased 7.17% and the resistivity decreased 39%. TEM photographs demonstrated that there appeared dislocations, martensite transformation and twin crystals inside the material after being treated by LSP. Twin crystals are the main reason attributing to the improvement of material electrical properties.