Since NiTi shape memory alloy (SMA) was discovered in the early 1960s, great progress has been made in understanding the properties and mechanisms of NiTi SMA and in developing associated products. For several decades, most of the scientific research and industrial interests on NiTi SMA has focused on its superelastic applications in the biomedical field and shape memory based “smart” devices, which involves the low strain rate (around 0.001 s^-1) response of NiTi SMA. Due to either stress-induced martensite phase transformation or stress induced martensite variant reorientation under the applied load, NiTi SMA has exhibited a high damping capacity in both austenitic and martensitic phase. Recently, there has been an increasing interest in exploitation of the high damping capacity of NiTi SMA to develop high strain rate related applications such as seismic damping elements and energy absorbing devices. However, a systematic study on the influence of strain, strain rate and temperature on the mechanical properties, phase transformation, microstructure and crystal structure is still limited, which leads to the difficulties in the design of products being subjected to high strain rate loading conditions. The four main objectives of the current research are: (1) achieve the single loading and the control of strain, constant strain rate and temperature in high strain rate compression tests of NiTi SMA specimens using Kolsky (split Hopkinson) compression bar; (2) explore the high strain rate compressive responses of NiTi SMA specimens as a function of strain (1.4%, 1.8%, 3.0%, 4.8%, and 9.6%), strain rate (400, 800 and 1200 s^-1), and temperature (room temperature (294 K) and 373 K); (3) characterize and compare the microstructure, phase transformation and crystal structure of NiTi SMAs before and after high strain rate compression; and (4) correlate high strain rate deformation with the changes of microstructure, phase transformation characteristics and crystal structure. Based on the results from this study, it was found that: (1) the compressive stress strain curves of martensitic NiTi SMAs under quasi-static loading conditions are different from those under high strain rate loading conditions, where higher strain hardening was observed; (2) the critical stress and stress plateau of martensitic NiTi SMAs are sensitive to the strain rate and temperature, especially at 373K, which results from the interplay between strain hardening and thermal softening; (3) the microstructure of martensitic NiTi SMA has changed with increasing strain rate at room temperature (294 K), resulting in the reduction in the area of ordered martensite region, while that area increases after deformation at elevated temperature (373K); (4) the phase transformation characteristic temperatures are more sensitive to deformation strain than strain rate; (5) the preferred crystal plane of martensitic NiTi SMA has changed from (11 ̅1)M before compression to (111)M after compression at room temperature (294 K), while the preferred plane remains exactly the same for martensitic NiTi SMA before and after compression at 373 K. Lastly, dynamic recovery and recrystallization are also observed after deformation of martensitic NiTi SMA at 373K.