A Carnot cycle is proposed for a working material undergoing martensitic transformation while operating a finite temperature interval. The size of the interval depends on the thermodynamic characteristics of the transformation. Diagrams are presented to decribe the deformation of titanium under adiabatic and isothermal conditions. The diagrams confirm the possibility of realization of the transformation. A comparison is made with other known cycles. It is shown that transformation hysteresis diminishes the efficiency of the actual cycle.