Magnetoelectric coupling effect has provided a power efficient approach in controlling the magnetic properties of ferromagnetic materials. However, one remaining issue of ferromagnetic/ferroelectric magnetoelectric bilayer composite is that the induced effective anisotropy disappears with the removal of the electric field. The introducing of the shape memory alloys may prevent such problem by taking the advantage of its shape memory effect. Additionally, the shape memory alloy can also “store” the magnetoelectric coupling before heat release, which introduces more functionality to the system. In this paper, we study a FeGaB/NiTi/PMN-PT multiferroic heterostructure, which can be operating in different states with electric field and temperature manipulation. Such phenomenon is promising for tunable multiferroic devices with multi-functionalities.