Near-equiatomic NiTi alloys are known to exhibit different transformat
ion sequences associated with different thermomechanical treatment and
testing conditions. Although a wide range of experimental data has be
en accumulated through the past few decades of research, there has bee
n a lack of understanding of the thermodynamic criteria for the occurr
ence of various transformation sequences. This paper presents a phenom
enological thermodynamic analysis of the transformation conditions and
derives criteria for the sequences, which agree well with experimenta
l observations.