In this work, the evolutions of superelasticity (SE) and elastocaloric effect (eCE) for NiTi shape memory alloy (SMA) helical springs under cyclic deformation are investigated experimentally and theoretically. Experimental results show that the functional fatigue of SE and eCE occur simultaneously, and these phenomena aggravate significantly with the increase/decrease of the loading level/spring index. Then, a thermo-mechanically coupled constitutive model is established. Two major inelastic deformation mechanisms, martensitic transformation (MT) and transformation-induced plasticity (TRIP), are incorporated. In addition to the martensitic and austenitic phases, the martensitic influence zone is also considered in the proposed constitutive model to characterize the high local stress in the region near the austenitic-martensitic interface. To accurately describe the deformation behavior of NiTi SMA springs, an analytical model considering both the torsion and bending deformation modes is employed. Furthermore, the lumped heat transfer analysis method is adopted to derive the evolution equation for the overall temperature of the springs. Finally, to verify the rationality of the newly developed model, predicted results for the functional fatigue of SE and eCE are compared with the experimental data.