Abstract: The shape memory effect is displayed by near-equiatomic ruthenium alloys of Ta or Nb with compositions of Ta.sub.x Ru.sub.1-x where x can be as low as 0.38 and preferably x=0.44 to 0.63 and Nb.sub.x Ru.sub.1-x where x can be as low as 0.25 and preferably x=0.45 to 0.59 which exhibit a transition from the high-temperature cubic phase to a tetragonal phase. These alloys are prepared by melting together tantalum and ruthenium, or niobium and ruthenium, in the above mentioned ratios. A further embodiment of this invention is to alloy NiTi alloys with, one of these two ruthenium-based high-temperature alloys (i.e. either Ta--Ru or Nb--Ru) so as to obtain a similar behavior which will result in an increase in the transition temperature relative to unalloyed Ni--Ti.