Nowadays, β type Ti-based alloys have been developed for load transfer clinicalapplications due to their superelasticity, shape memory effect, low elastic modulus and highdamping capacity [1]. These properties promote bone regeneration and make them promisingcandidates for being used in load transfer implantology. The objective of the present work is toachieve a material with shape memory properties and/or low elastic modulus. The influence of coldwork on the thermoelastic martensitic transformation and elastic modulus of the Ti-16.2Hf-24.8Nb-1Zr alloy has been investigated to determine optimal conditions. The homogenized vacuum arcmelted button was heat treated at 1100ºC during 2 hours and quenched. Samples of each alloy weremicrostructurally and mechanically characterized after being cold rolled from 5 up to 95%. Theelastic response for each condition was evaluated by instrumented nanoindentation by using aBerkovich tip and a spherical tip. A decrease in elastic modulus was observed when increasing thecold work percentage. The lowest value, 44 GPa, similar to that of cortical bone, was found in the95% cold worked condition.