A shape memory stainless steel containing more than 10% by weight of Cr excellent in resistance to stress corrosion cracking and having sufficient function as a shape memory alloy, which comprises, by weight, up to 0.10% of C, 3.0 to 6.0% of Si, 6.0 to 25.0% of Mn, up to 7.0% of Ni, more than 10.0% and not more than 17.0% of Cr, 0.02 to 0.3% of N, 2.0 to 10.0% of Co and more than 0.2% and not more than 3.5% of Cu, and at least one selected from up to 2.0% of Mo, 0.05 to 0.8% of Nb, 0.05 to 0.8% of V, 0.05 to 0.8% of Zr, 0.05 or 0.8% of Ti, the balance being Fe and unavoidable impurities, the alloying components being adjusted so that a D value is not less than-26.0, wherein the D value is defined by the following equation:D=Ni+0.30.times.Mn+56.8.times.C+19.0.times.N+0.73.times.Co+Cu -1.85.times.[Cr+1.6.times.Si+Mo+1.5.times.(Nb+V+Zr+Ti)].