Abstract The effects of Ta and Sn contents on the martensitic transformation temperature, crystal structure and thermal stability of Ti–Ta–Sn alloys are investigated in order to develop novel high temperature shape memory alloys. The martensitic transformation temperature significantly decreases by aging or thermal cycling due to the formation of ω phase in the Ti–Ta binary alloys. The addition of Sn is effective for suppressing the formation of ω phase and improves stability of shape memory effect during thermal cycling. The amount of Sn content necessary for suppressing aging effect increases with decreasing Ta content. High martensitic transformation temperature with good thermal stability can be achieved by adjustment of the Ta and Sn contents. Furthermore, the addition of Sn as a substitute of Ta with keeping the transformation temperature same increases the transformation strain in the Ti–Ta–Sn alloys. A Ti–20Ta–3.5Sn alloy reveals stable shape memory effect with a martensitic transformation start temperature about 440 K and a larger recovery strain when compared with a Ti–Ta binary alloy showing similar martensitic transformation temperature.