Martensitic transformation and magnetic entropy change in Co substituted Ni50Mn35−xCoxSn15 (x = 0, 1.0, 1.5, 2.0, and 3.0) Heusler alloys have been investigated by X-ray powder diffraction analysis, differential scanning calorimetry, and magnetic measurements. X-ray diffraction analysis reveals that the Ni50Mn35−xCoxSn15 alloys have L21 Heusler structure at room temperature. The phase decomposition of the sample with x = 3.0, after annealing 48 h at 1173 K, is confirmed by both X-ray powder diffraction analysis and energy-dispersive x-ray spectroscopy in scanning electron microscopy. With the increase of the Co content from 0 to 2.0, the martensitic transformation temperature TM increases from 185 to 245 K, which is in good agreement with the rule of valence electron concentration e/a-dependence of TM. The magnetic entropy change ∆SM is investigated in the vicinity of the martensitic transformation.