Two types of shape memory alloys, Fe-14Mn-6Si-9Cr-7Ni (9Cr alloy) and Fe-16Mn-6Si-12Cr-7Ni (12Cr alloy), have been studied. it was found that there is more amount of a phase in 12Cr alloy than in 9Cr alloy. The 9Cr alloy is better than the 12Cr alloy on shape memory effect and workability, but the 9Cr alloy is not good as the 12Cr alloy on corrosion-resistance in the 35% NaCl aqueous solution. It was shown that a phase has a negative effect on shape memory effect. The content of the element of Cr has an important effect on the microstructure, shape memory effect and corrosion-resistance of FeMnSiCrNi shape memory alloys.