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Shape memory alloys provide new areas for the design of biomaterials in biomedical engineering and also for the design of artificial hard tissues and surgical instruments, since they have definite distinctiveness and remarkable characteristics. This study will look at the biocompatibility behavior of Ti-Ni based shape memory alloys and its medical applications with high possible for improving the present and future quality of bioengineering. In particular, the biocompatibility behavior, vivo and vitro corrosion analysis, histological studies of tissues, vitro and vivo cytotoxicity and applications of Ti-Ni based shape memory alloys in the fields of Cardiovascular, Gastroenterology and Urology, Orthopedics and bone-related purposes have been discussed in this paper.