Effects of hydrostatic pressure on martensitic transformations in Fe-29.9Ni and Fe-24.6Ni-1.8C (at%) alloys have been investigated by means of electrical resistivity and magnetization measurements and optical microscopy under a pressure of up to 1.5 GPa. As a result, the followings were found:Transformation temperatures under hydrostatic pressure, M's, shift from that under no pressure, Ms, Ni alloy and the non-Invar Fe-Ni-C alloy. The amount of the martensites induced at M's decreases with increasing hydrostatic pressure. Morphology of the hydrostatic pressure-induced martensites is the same as that of the thermally-induced ones irrespective of the formation temperature. A thermodynamical analysis for the hydrostatic pressure dependence of the transformation temperature shows that other effects should be taken into consideration besides the effect that the volume expansion associated with the martensitic transformation is opposed to hydrostatic pressure as has previously been proposed.