To provide a shape memory alloy having high magnetization at about room temperatures by making a martensite transformation temperature and a Curie temperature to high ones, and to utilize a shape change by a magnetic field for a magnetic actuator or the like.

The rare earth-added ferromagnetic shape memory alloy is obtained by adding 4f based rare earth elements such as Sm and Nd, e.g., to an NiMnGa alloy comprising Ni, Mn and Ga. Thus, the martensite transformation temperature of the addition alloy is increased, and the shape of the material is deformed by utilizing a magnetic field.