Due to its wide superelastic temperature range (-196~240 ℃) and extremely low temperature dependence on the critical stress of martensitic transformation（Clausius-Clapeyron slope is less than 0.2 MPa/℃ in compression and less than 0.5 MPa/℃ in tensile）, FeMnAlNi-based alloys have shown bright application prospects in aerospace, space exploration, vibration attenuation and antiseismic infrastructures, etc. The enhancement of the superelastic properties has been investigated extensively, becoming a hot research topic recently. The superelastic properties of FeMnAlNi alloys are affected by many factors. The key factors to improve the superelastic properties are as follows: controlling the reasonable precipitation state to improve the thermoelasticity of phase transition, increasing the grain size to improve the coordination of phase transition, and selecting the appropriate grain orientation to activate more martensite variants. This article first introduces the relationship between martensite phase transformation and superelasticity, next based on the special martensitic phase transformation of Fe-MnAlNi-based superelastic alloys, summarizes the main factors of affecting the superelastic including structure factors (precipitated phase, grain size and grain orientation) and environmental factors (magnetic field, temperature), finally provides an outlook on the future research direction of FeMnAlNibased superelastic alloy.