The properties of FeMnSiCrNi shape memory alloy were investigated. The results show that the best shape memory effect of Fel4Mn6Si9Cr5Ni alloy is 85%. The transformation amount of the ε→γ transformation is not complete after heating the alloy to 1000 K, As and Af points drop with increased transformation enthalpy ( △Hγ→ε) by thermal cycling and increased prestrain. The alloy shows also good creep and stress relaxation resistance. In addition, the alloy having a tensile force of 20 kN and a sealing pressure of 6 MPa can satisfy requirements for possible industrial application on pipe joints.