Phase transformations in equiatomic ZrCu alloy prepared by induction melting have been investigated by means of differential scanning calorimetry (DSC), electrical resistivity measurements, X-ray diffraction (XRD) and transmission electron microscopy (TEM). The starting microstructure of the as-cast equiatomic ZrCu alloy consists of a martensitic ZrCu phase. Heating the as-cast material from room temperature to 800 degreesC results in the phase transformation sequence: austenisation -->, amorphisation (partial) --> eutectoid decomposition --> eutectoid recombination. To confirm this sequence, ex-situ heat treatments have been performed and an amorphous phase has been observed to be present in some of the annealed samples. Since this amorphous phase exists only locally and contains significant levels of oxygen, it appears that most of the austenite ZrCu remains unchanged prior to the eutectoid decomposition while a small amount of the austenite ZrCu transforms into amorphous ZrCuOx.