In the present article, recent reports on microstructure and mechanical properties in SPDed FeNiCoTi and FeNiAlC alloys are overviewed. The chemical compositions in these alloys have been determined to have lattice softening where the elastic constant C A goes to a very small value. The alloys with lattice softening were processed with severe plastic deformation, SPD, to raise the strength. Here, SPD includes severe cold working by rotary swaging, cold rolling and high-pressure torsion. These alloys have been reported to have ultrahigh strength along with good tensile ductility and the balance of strength and ductility is better than that in conventional high-strength steels. Microstructural development during the SPD process and the relation between microstructure and mechanical properties in SPDed alloys are summarized. The phase stability of £ has an important role in the microstructural development during SPD process and deformation behavior in the subsequent mechanical testing. The untransformed £ has a potent capability for plastic deformation where strain-induced transformation and deformation twinning can be expected to occur during mechanical tests after SPD processing. Simultaneous activation of these deformation mechanisms during plastic deformation would be a common feature in the lattice softened alloys, but the effects of alloying elements and phase stability on the deformation behavior have not been understood yet.