TiNi alloy, especially porous TiNi, a good biocompatible material, can be made by laser induced self-propagating high-temperature synthesis (SHS). A 40-W CO2 laser was used to ignite the powders of Ti and Ni, and TiNi intermetallic compound was synthesized by SHS in a reaction kettle of stainless steel. High-speed photography, X-ray diffraction, and scanning electron microscopy were used to investigate and analyze the reaction process, phase composing, and microstructure of the product, respectively. The influence factors on the reaction process and the product were discussed. The results indicate that laser induced SHS is an efficient, energy-saving method; The phase ingredient of the product consists of TiNi, Ti2Ni, and Ni3Ti. With the increase of the preparing pressure of the sample, the reacting rate decreases; with the increase of the laser power and the preheating temperature, the reacting rate increases. Under the condition of 30 deg.(centigrade)/min, the synthesis reaction had been carried out consistently and completely.