This chapter is devoted to a study of structure, martensitic transformation and shape memory behaviour in TiNi foams produced by self-propagating high-temperature synthesis. The influence of the chemical composition of the Ti+Ni powder mixture as well as pre-heating temperature on the structure and properties of TiNi foams is studied. It is shown that the variation in Ni concentration in the powders mixture allows one to produce a porous TiNi alloy with properties close to the equiatomic cast Ti50Ni50 alloy or Ni-rich cast TiNi alloy. It is shown that the TiNi foams produced from a mixture where the Ni concentration is higher than 45 at.% should be subjected to post-production annealing to decrease the Ni concentration in the TiNi phase. The influence of annealing temperature and duration on the structure and martensitic transformation in TiNi foams produced by SHS is studied. The optimal conditions for annealing of the TiNi foams are found. It is shown that TiNi foams after optimal heat treatment demonstrat