A series of Ti based shape memory alloys with composition of Ti50Ni49Cr1, Ti50Ni47Cr3 and Ti50Ni45Cr5 were developed by vacuum arc-melting under a purified argon atmosphere. The histometric and corrosion evaluation of Ti-Ni-Cr shape memory alloys have been considered in this research work. The alloys were developed by vacuum arc melting and implanted subcutaneously in rabbits for 4, 8 and 12 weeks. Metallic implants were embedded in order to determine the outcome of implantation on histometric and corrosion evaluation of Ti-Ni-Cr metallic strips. Encapsulating membrane formation around the alloys was minimal in the case of all materials. After histomorphometric analyses it was possible to demonstrate that there were no statistically significant differences between the materials. Corrosion rate was also determined in this study which is within acceptable range. The results showed the Ti- Ni-Cr alloy was neither cytotoxic, nor have any systemic reaction on living system in any of the test performed. Implantation shows good compatibility and a potential of being used directly in vivo system.