Recently, explosive consolidation of metal powders has had a renewed interest because of its short processing time, and the high pressures that are obtained easily etc. Although there are some new techniques such as combustion synthesis or self-propagating high temperature synthesis which have been developed. In previous papers, NiTi alloy with a good SME was obtained by explosive consolidation and a subsequent heat treatment with pure nickel and titanium powders. Metallic powders have also been successfully made by this method. Thus NiTi alloys made by explosive consolidation are feasible. But it seems impossible that NiTi intermetallic compounds are directly shock synthesized from pure Ti and Ni elemental powders. By comparison with the processing and properties, few papers were published about microstructures of explosively consolidated NiTi alloys which greatly influence the phase transformation behavior and properties. In this paper, the authors report detailed results of microfeatures for the specimen without any future heat treatments by the transmission electron microscope.