The paper reports solution treatment (ST) and mechanical alloying (MA) effects on the structure and static/dynamic mechanical behaviour of PM-MA'ed FeMnSiCrNi shape memory alloys associated with the formation of thermally and stress-induced martensite. The specimens were subjected to tensile pre-straining, in order to stress induce martensite and their gauges were cut and prepared for X-ray diffraction (XRD) as well as for optical and scanning electron microscopy (SEM). XRD patterns allowed determining the presence of large amounts of alpha'-body centred cubic (bcc) besides epsilon-hexagonal close packed (hcp) martensite and gamma-face centred cubic (fcc) austenite. The decrease in the amount of alpha'-bcc at specimens ST'ed at 1273 and 1373 K, with increasing pre-straining degree, was confirmed by XRD patterns and SEM micrographs. Dynamic mechanical analysis (DMA) was performed by strain sweeps (SS). The SS-DMA graphs displayed storage modulus plateaux which were associated with the formation of epsilon-hcp martensite.