The martensitic transformations were studied in the Ti40.7Hf9.5Ni39.8Cu10 ribbon after different numbers of mechanical cycling in the superelastic regime on loading to different strains. It was shown that the samples showed the perfect superelasticity with fully recoverable strain up to 6 %. Mechanical cycling was accompanied by a decrease in the critical stresses for the martensite formation on loading. The critical stress for the martensite shrinking on unloading did not depend either on number of cycles or on maximum strain. Calorimetric study showed that the mechanical cycling increased the temperatures of the forward martensitic transformation and did not affect the temperatures of the reverse transformation. It was found that the mechanical cycling led to the formation of the stages on the dependence of the martensite volume fraction on temperature during cooling due to one the localization of the martensite formation on loading.