Deformation according to the scheme of uniaxial compression (with simultaneous measurement of mechanical properties) in isothermal conditions at 700-800°C provides a significant grain structure refinement of the Сu-14 mas.%Al-4 mas.%Ni alloy. It is found that this leads to an increase in the plasticity of the alloy experiencing thermoelastic martensitic transformations and associated shape memory effects. The structure was studied using the methods of scanning and transmission electron microscopy and X-ray phase analysis.