To investigate the mechanical properties and fracture mechanisms of hydroxyl-terminated polybutadiene (HTPB) propellant at low temperature and high strain rate, uniaxial tensile tests were conducted over the range of temperatures 233 to 298 K and strain rates 0.4 to 14.14 s 21 using an INSTRON testing machine, and scanning electron microscope (SEM) was employed to observe the tensile fracture surfaces. The experimental results indicate that the deformation properties of HTPB propellant are remarkably influenced by temperature and strain rate. The characteristics of stress-strain curves at low temperatures are different from that at room temperature, and the effects of temperature and strain rate on the mechanical properties are closely related to the changes of properties and the fracture mechanisms of HTPB propellant. The dominating fracture mechanism depends much on the temperature and changes from the dewetting and matrix tearing at room temperature to the particle brittle fracture at low temperature, and the effect of strain rate only alters the mechanism in a quantitative manner. Finally, a nonlinear viscoelastic constitutive model incorporating the damage evolution and the effects of temperature and strain rate was developed to describe the stress responses of this propellant under the test conditions. During this process, the Schapery-type constitutive theories were applied and one damage variable was considered to establish the damage evolution function. The overlap between experimental results and predicted results are generally good, which confirms that the developed constitutive model is valid, however, further researches should be done due to some drawbacks in describing the deformation behaviors at very large strain.