Abstract: NiTi alloy is a shape memory material with significant industrial value, boasting excellent shape memory properties, wear resistance, superelasticity, and biocompatibility. It holds extremely broad application prospects in many fields. However, due to its inherent high processing difficulty, in order to meet the lightweight requirements of NiTi shape memory alloy’s structural parts, NiTi shape memory alloy often needs to be welded with another easily processable material. The welding of heterogeneous materials can not only give full play to the performance advantages of the material itself but also greatly reduce the problem of system integration caused by the material. Fusion welding and solid-state welding methods for joining NiTi shape memory alloys with dissimilar metals were primarily introduced, and the main challenges faced during the welding process and their corresponding solutions were analyzed. Finally, based on the welding of NiTi shape memory alloys with dissimilar metals, their applications in the field of aerospace and aviation were introduced. This article aims to provide readers with an understanding of the research progress in welding NiTi shape memory alloys with dissimilar metals, while offering insights for optimizing the quality of dissimilar metal welded joints.