The static and dynamic magnetic controlling characteristics of NiMnGa magnetically controlled shape memory alloy (MSMA) were experimentally studied. The results show that the characteristics of induced strain with respect to the magnetic field are nonlinear with saturation nature, and dependent on the temperature as well as the load applied to the MSMA. The magnetic shape memory effect can be observed only in complete martensite phase at room temperature. The magnetic permeability of MSMA is not constant and reduces with the increment of magnetic field. The relative saturation magnetic permeability of MSMA is about 1.5.