Strain energy density functions are used in CAE analysis of hyperelastic materials such as rubber and elastomers. This function can originally be obtained only by experiments using biaxial deformation, but the difficulty of such experiments has made it almost impossible to put the function to practical use. Furthermore, it has been unclear how to introduce the strain energy density function necessary for CAE analysis from the results of biaxial deformation experiments on rubber. In this study, parameters of the Ogden and Mooney–Rivlin approximations of the strain energy density function were derived from the results of biaxial deformation experiments on silicone rubber, and their validity was verified. These results showed that it is best to determine the coefficients of the approximate equations for the strain energy density function after 10 cycles of repeated elongation of rubber in an equal biaxial deformation state, followed by equal biaxial elongation, uniaxial constrained biaxial elongation, and uniaxial elongation to obtain these three stress–strain curves.