Martensitic transformations, martensitic structures and substructures of Ni 50 Mn 29 Ga 21 Tb 1.2 shape memory alloy were studied by DTA, X-ray diffraction and electron diffraction. The results show that the mainly phase at room temperature has body-centred tetragonal structure with the lattice parameters: a=b=0.60 nm, c=0.5546 nm; and has body-centred monoclinic with lattice parameters: a=0.616 nm, b=0.581 nm, c=0.553 nm, β=90.8° in some tiny area. The substructures of Ni50Mn29Ga21Tb1.2 at room temperature are twin.