ABSTRACT Repetitive corrugation and straightening (RCS) is a novel method of severe plastic deformation in bulk metallic materials. In this study, the effect of RCS on the properties of NiTi shape memory alloy (SMA) is investigated. Cold-rolled (CR) Ni49.8–Ti50.2 (at. %) strips with varying degrees of cold-work were subjected to RCS and evaluated for transformation, mechanical and functional properties. The study demonstrated that RCS can be used effectively to improve the strength and ductility of the CR SMA strips, while its transformation and functional properties are largely preserved. The ultimate tensile strength (UTS) and elongation to failure of the 30% CR strip post RCS increased from 950 MPa to 1130 MPa and ~19% to ~26%, respectively. The microstructural evaluation confirmed that RCS resulted in notable grain refinement and re-distribution of Ti2Ni second phase in the matrix. Consequent to its high strength, the cyclic response of the RCS strip on stress-free thermal cycling was found to be better than the CR strip.