Rate-dependent hysteresis nonlinearity in piezoelectric actuators severely limits micro- and nanoscale system performance. It is necessary to establish a dynamic model to describe the full behavior of rate-dependent hysteresis. In this article, the Elman neural network–based hysteresis model is developed for piezoelectric actuators. An improved dynamic hysteretic operator is proposed to transform the multi-valued mapping of hysteresis into one-to-one mapping on a newly constructed expanded input space. Then, Elman neural network incorporated with the improved dynamic hysteretic operator is utilized to approximate the behavior of rate-dependent hysteresis. The combination of Elman neural network and the improved dynamic hysteretic operator can dually embody the dynamic property and is capable of fully extracting the characteristics of rate-dependent hysteresis. The experimental results are presented to illustrate the potential of the proposed modeling technique.