This study investigated the elastic deformation behaviour of Nb nanowires embedded in a NiTi matrix. The Nb nanowires exhibited an ultra-large elastic deformation, which is found to be dictated by the martensitic transformation of the NiTi matrix, thus exhibiting unique characteristics of locality and rapidity. These are in clear contrast to our conventional observation of elastic deformations of crystalline solids, which is a homogeneous lattice distortion with a strain rate controlled by the applied strain. The Nb nanowires are also found to exhibit elastic-plastic deformation accompanying the martensitic transformation of the NiTi matrix in the case when the transformation strain of the matrix over-matches the elastic strain limit of the nanowires, or exhibit only elastic deformation in the case of under-matching. Such insight provides an important opportunity for elastic strain engineering and composite design.