Nowadays, β type Ti-based alloys have been developed for load transfer clinical applications due to their superelasticity, shape memory effect, low elastic modulus and high damping capacity [1]. These properties promote bone regeneration and make them promising candidates for being used in load transfer implantology. The objective of the present work is to achieve a material with shape memory properties and/or low elastic modulus. The influence of cold work 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 arc melted button was heat treated at 1100ºC during 2 hours and quenched. Samples of each alloy were microstructurally and mechanically characterized after being cold rolled from 5 up to 95%. The elastic response for each condition was evaluated by instrumented nanoindentation by using a Berkovich tip and a spherical tip. A decrease in elastic modulus was observed when increasing the cold work percentage. The lowest value, 44 GPa, similar to that of cortical bone, was found in the 95% cold worked condition.