The wear and oxidation resistance of two phase nickel aluminides was investigated. Wear tests of various heat-treated specimens at room temperature and at $500^{circ}C$ were performed under no lubricant condition in air by using a ball-on-disk type tribotester. Isothermal oxidation tests were made at $1100^{circ}C$ in air flowing at the rate of 70cc/min and at $1000^{circ}C$ in air by using TGA. Experimental results from wear tests showed that nickel aluminide with a higher content of Al had an improved wear resistance at both temperatures. Also the examination of the wear tracks after wear test at both room temperature and $500^{circ}C$ indicated that regardless of the alloy compositions the wear tracks of the two phase nickel aluminides showed an abrasive type wear The improved oxidation resistance observed in the Ni-34at%Al alloy could to be attributed to the microstructural difference between the aluminides. An accelerated oxidation along the thin layer of $Ni_3AL$ along the grain boundary observed in the microstructure of the Ni-32at%Al aluminide could be attributed to the poor oxidation resistance.