The structures and electrochemical properties of the Ti1.4V0.6Ni ribbon before and after heat treatment are investigated systematically. The structure of the sample is characterized by X-ray powder diffraction analysis. Electrochemical properties including the discharge capacity, the cyclic stability and the high-rate discharge ability are tested. X-ray powder diffraction analysis shows that after heat treatment at 590 °C for 30 min, all samples mainly consist of the icosahedral quasicrystal phase (I-phase), Ti2Ni phase (FCC), V-based solid solution phase (BCC) and C14 Laves phase (hexagonal). Electrochemical measurements show that the maximum discharge capacity of the alloy electrode after heat treatment is 330.9 mA?h/g under the conditions that the discharge current density is 30 mA/g and the temperature is 30 °C. The result indicates that the cyclic stability and the high-rate discharge ability are all improved. In addition, the electrochemical kinetics of the alloy electrode is also studied by electrochemical impedance spectroscopy (EIS) and hydrogen diffusion coefficient (D).