The giant magnetostrictive material (GMM) in dynamic magnetic field has nonlinear and hysteretic characters. Based on the nonlinear constitutive model of the material, the quasi-static hysteresis model with magneto-elastic coupling was built on the Jiles-Atherton model. Considering the eddy current and anomalous losses, the hysteresis model was modified, and the dynamic coupling hysteresis model was established on the basis. Compared with the experimental data, the areas of hysteresis curves increased with frequency, and the maximum magnetostriction strain of the curves increased with prestress. The model agreed well with the experiments within the range of 500Hz.