In order to improve the controllability of the mechanical properties of powder metallurgy (PM) titanium (Ti)-nickel (Ni) super-elastic alloys, cobalt (Co) powder was added to the alloys up to 2.0 at%. In particular, the dependence of plateau stress and recovery rate in tensile hysteresis test on cobalt content was investigated by considering microstructures analysis results. XRD and TEM-EDS analysis clarified cobalt elements existed as substitutional solution atoms in Ni atom sites of TiNi alloys. It was confirmed that PM TiNiCo alloys with the cobalt content of 1.0 at% Co or less showed a high shape recovery rate of around 90% or more. In addition, the increment of the plateau stress of TiNiCo alloys was almost constant regardless of the holding time in heat treatment. That is, the cobalt solution content had no effect on the amount and size of Ti 3 Ni 4 precipitates. Therefore, it was possible to independently control the plateau stress without affecting the critical slip strain by adding cobalt element to TiNi alloys.