In this research, we investigated the fabrication conditions of Ti-Ni alloy powder by MA process and the shape memory characteristics of the sintered alloy by a pulse-current sintering equipment using mechanically alloyed powder (MA powder). The microstructure of the sintered alloy of the MA powder was more homogeneous than that of the alloy of the elemental powders. The application of the MA powder makes the width between transformation temperatures of the shape memory treated alloy of the MA powder became narrower, that is, it improves the temperature response of the compact. The tensile strength and elongation of the shape memory compact of the MA powder were approximately 780 MPa and 7.5 %, respectively. This is one of the superior tensile properties of SMA compact fabricated by powder metallurgy process. The superelastic behavior took place in the alloy of the MA powder. Thus, the MA process in short process time resulted in lower contamination of the MA powder and the application of the MA powder resulted in superior shape memory characteristics of the sintered alloy.