It is well known that the morphologies of the α martensite formed from the γ phase in ferrous alloys are classified into five types of lath, butterfly, (225)A type plate,lenticular and thin-plate. Among those α martensites, onlythe thinplate martensite, which is characterized by containing a high density of transformation twins, has a potential of exhibiting a perfect shape memory (SM) effect.Recently the present authors found in Fe-Ni-Si alloys that the thin-plate martensite is formed by the introduction of fine and coherent γ-(Ni,Fe)3Si particles with a L12 ordered structure in the austenite matrix due to ausaging. In the present study, the SM properties of the ausaged Fe-Ni-Si alloys with the thin-plate martensite are investigated by a conventional bending-test. The effects of the addition of Co to the Fe-Ni-Si alloys on the martensitic transformation and the SM properties are also investigated. It is shown that while the ausaged Fe-Ni-Si ternary alloys exhibit an imperfect SM effect due to reverse transformation from stress-induced thin-plate martensite to austenite, the SM properties are improved by the addition of Co. An almost perfect SM effect is confirmed in the Fe-Ni-Si-Co alloys by heating to 1 100 ℃ after deformation at -196 ℃.