The effect of heat treatment on the microstructure, hardness and rollability of V 55 Ti 30 Ni 15 alloy membranes has been investigated in this study. The microstructure resulting from different heat treatment conditions has a great influence on hardness. Fine NiTi particles precipitate from the supersaturated V-matrix solid solution at temperatures above 600°C, increase in quantity until 800°C, then dissolve back into the V-matrix with a further increase in temperature up to 950°C. The resultant hardness decreases with temperature until 800°C, and then increases from 800 to 950°C. In the present study, a comparison has been made between the rollability of the as-cast and the heat treated state selected for deformation at different rolling temperatures. The percent reduction in thickness of the heat-treated alloy (800°C/18h) has been found to be up to 30% higher than that of the as-cast alloy, even at room temperature (cold rolling).