The stress-strain behavior of cast magnesium alloy (AM60) was investigated by strain-controlled cyclic testing carried out on MTS. In order to describe the cyclic stress and strain properties of AM60 by means of the energy storing characteristics of microstructure during irreversible deformation, a plastic constitutive model with no yielding surface was developed for single crystal by adopting a spring-dashpot mechanical system. Plastic dashpots reflecting the material transient response were introduced to describe the plasticity of slip systems. By utilizing the KBW self-consistent theory, a polycrystalline plastic constitutive model for Magnesium alloy was formed. The numerical analysis in the corresponding algorithm is greatly simplified as no process of searching for the activation of the slip systems and slip directions is required. The cyclic stress-strain behavior, based on this model, is discussed. The simulation results show good agreement with the experimental data for AM60.