The nonlinear model of shape memory alloy deformation taking into account not only state parameters of representative volume as a whole but parameters of martensite plates sets as well is proposed. It allows to take into account different behavior of these sets during structural transition (reorientation of martensite), correctly determine deformation during reverse phase transition (from martensite to austenite), and to justify reversing shape memory effect (nonmonotonic change of inelastic deformation intensity during the reverse transition without load after a direct transition with reverse loading). The basic relations of the model in case of uniaxial tension and compression are presented. The analytical solution of bar tension and compression problem with reversing shape memory is obtained. It takes into account the structural transition during load change and direct transition resumption from the two-phase state.