The NiTi shape memory alloy exhibits excellent superelastic property and elastocaloric effect. The large temperature change (?T ) value of 30 K upon loading and?19 K upon unloading are obtained at room temperature, which are higher than those of the other NiTi-based materials and among the highest values reported in the elastocaloric materials. The asymmetry of the measured?T values between the loading and unloading process is ascribed to the friction dissipation. The large temperature change originates from the large entropy change during the stress-induced martensite transformation (MT) and the reverse MT. A large coefficient-of-performance of the material is obtained to be 11.7 at ε =1％, which decreases with increasing the applied strain. These results are very attractive in the present solid-state cooling, which potentially could replace the vapor compression refrigeration technologies.