An in situ TiC-enhanced NiTi2-based composite deposition layer was prepared by ultrasonic assisted underwater wet laser deposition. The evolution of the microstructure and interface state, and the friction properties in the air and brine solution environments of the deposition layer were analyzed and researched. The results demonstrated that the thermal and steady-state cavitation from ultrasound effects increase the total energy of the melt pool and promote mixing. The dilution rate of the ultrasonic assisted underwater laser deposition layer increases to 86.72 % compared with that of the underwater laser deposition layer (78.75 %). Ultrasonic reduced underwater laser deposition defects such as lack of fusion and weld slag, and enhanced the wettability between the deposition layer and substrate. The contact angle of the UWNT layer (24.40°, in average) is smaller than the WNT layer (29.80°, in average). Ultrasonic shortened the contact time between the deposition layer surface and the solution, which reduced the reaction of the Ni element with the brine solution. It also transformed the deposition layer from hypereutectoid microstructure to hypoeutectic microstructure and from planar interface to cellular interface. With the effect of the ultrasonic field, the elements in the deposition layer become more uniformly distributed and the secondary phases undergo spheroidization. In the ultrasonic assisted deposition layer, stress-induced FCC-Ti was discovered. Ultrasonic field also reduced the dispersion of the microhardness and increased the average microhardness to 863.3 ± 45.1 HV0.3. Tribology properties show that ultrasonic field effectively improved the wear resistance and friction stability of the ultrasonic assisted deposition layer. The COF of the ultrasonic assisted deposition layer was less affected by the environment, with values of 0.25 and 0.24 observed in air and brine solution, respectively. Overall, the research results in this paper can provide a new insight to improve the surface properties of NiTi2-based alloy underwater laser deposition.