The features of the microstructure of the Ti–51 at.%Ni shape memory alloy have been studied after aging at various temperatures. In combination with studies using optical and electron microscopy and X-ray analysis, mechanical properties were tested for tensile strength at room temperature. It has been established that the aged alloy is distinguished by a high level of mechanical properties (tensile strength up to 1200 MPa with a relative elongation of up to 35 %) due to highly dispersed homogeneous decomposition and the effect of simultaneous hardening and increased plasticity as a result of deformation-induced martensitic transformation.