Giant magnetostrictive transducer can be widely used in active vibration control, micro-positioning mechanism, energy harvesting system, and ultrasonic machining. Hysteresis and coupling effects are present in transducer behavior. The accurate prediction of output characteristics is critical for a transducer. A dynamic characteristic model of a transducer is proposed, by providing a modeling methodology capable of characterizing the nonlinearities. To attain this objective, the output displacement, acceleration, and force are discussed, the effects of operating conditions on the performance of Terfenol-D are studied, and a magneto-mechanical model for the behavior of transducer is proposed. A prototype of the transducer is fabricated and tested to verify the proposed model. The output displacement, acceleration, and force have been theoretically and experimentally studied at different working conditions. The results show that, the displacement amplitude, acceleration amplitude, and force amplitude are about 49 μm, 1943 m/s2, and 20 N. The error between the model and experimental results are 3 μm, 57 m/s2, and 0.2 N. Calculation results and experimental results show a good agreement.