Abstract: The present paper gives a review of results of recent studies investigating the fundamentals of the martensitic and related phase transformations in Ni-Al. For the former case, the emphasis will be on the microstructure of martensite plates. The latter include the metastable Ni2Al omega-like and stable Ni5Al3 bainitic phases. These phases will be discussed in view of their atomic structure, nucleation, growth and effect on the martensitic transformation. A separate chapter will deal with precursor effects.