Due to its interesting properties and wide applications in different industries, fabrication of monolithic NiTi with cost-effective methods is an important and attractive issue. One of the economic ways to fabricate NiTi is employing elemental nickel and titanium powders. In this study, effects of using elemental powders as a precursor on the microstructure and mechanical properties of HIP-consolidated NiTi samples will be explored. The result of XRD analysis showed that after HIP process an interwoven structure which consists of NiTi2, Ni3Ti and B2-B19′ NiTi evolves. The formation of NiTi2/Ni3Ti intermetallics is thermodynamically favored which affects different aspects of this alloy: (i) it alters martensitic transformation temperatures; (ii) restricts essential properties of this alloy such as PE and SME, (iii) increases hardness, and (iv) yields to premature fracture at small strains during tensile tests.