The two-way shape memory behavior of Ni55Ti45 was investigated to develop a tube-shaped NiTi actuator which could generate a large amount of force. The two-way shape memory effect (TWSME) was induced by thermal cycling under various amounts of constant compressive stress. Six specimens with the same outer diameter and different thickness were used to apply the TWSME to an actuator. A fast saturation tendency of the recovery strain was shown through training at each level of constant stress, after which the two-way shape memory strain was quantitatively measured during thermal cycling for each level of applied stress. From the results, the maximum two-way strain value was obtained after training at a constant level of stress and then decreased thereafter. In addition, the two-way strain was found to depend on the thickness of the tube-shaped specimen. All specimens could be divided into two groups depending on the rate of increase in the two-way strain. After two-way strain was obtained, the two-way recovery stress was measured to verify the performance of the sample as an actuator. The results showed that the two-way recovery stress behavior was similar to the two-way strain; if the optimal thickness of the specimen and the stress applied for training are used for the development of the TWSME, tube-shaped NiTi using the TWSME can replace one-way shape memory alloys.