Microstructural control to produce multiphase structure has received much attention to improve the high temperature strength as well as low temperature ductility of intermetallics. Transmission electron microscopic investigation has been carried out concerning the effect of Cr-precipitation on the mechanical properties of B2-ordered NiAl containing 4 to 8 mol% of Cr. By aging at temperatures around 973 K after solution annealing, fine spherical precipitates took place homogeneously in the NiAl matrix and the alloys hardened appreciably. Selected area electron diffraction (SAED) patterns have not revealed any additional extra-spots during aging, because the Cr-particles show cube-cube orientation relationship and keep a perfect coherency with the ordered matrix lattice. Dislocations were confirmed to bypass the particles during deformation. Although the dispersion of Cr-particles increased the yield strength of NiAl at intermediate temperature, the strength decreased appreciably at higher temperatures.