TiNi　shape　memory　alloy　(SMA)　and　Stainless　steel　(SUS304)　were　joined　by　transient　liquid　phase　(TLP)　diffusion　bonding　using　a　Ag-Cu　eutectic　interlayer.　The　effect　of　bonding　parameters-bonding　temperature,　holding　time　and　bonding　pressure　on　interface　microstructures　and　mechanical　property　of　bonded　joint　were　investigated　respectively.　The　results　showed　that　the　maximum　shear　strength　was　obtained　for　the　specimens　joined　at　860C　for　60　minutes　under　a　specific　pressure　of　0.05　MPa.　Through　scanning　electron　microscopy　(SEM)　and　X-ray　diffractometry　(XRD)　test,　the　element　distribution　and　phase　composition　of　the　joint　welded　under　the　optimum　process　parameters　were　investigated.　And　the　joints　were　found　to　obtain　α-Ag　(Cu)　solid　solution　and　intermetallics　TiNi2,　TiFe　and　Ti3Ni4　etc.　Based　on　interface　microstructural　characterization　and　element　diffusion　analysis,　the　kinetics　of　isothermal　solidification　was　studied.　It　indicates　that　the　process　of　TLP　diffusion　bonding　of　TiNi　SMA　and　stainless　steel　shows　a　typical　characteristic　of　asymmetry.