Steel is widely used as a constituent material for various structures such as automobiles and ships. To perform high precision analysis including high strain rate behavior, an understanding for the strain rate dependence of material strength becomes very important. The purpose of this study is to evaluate the strain rate dependence of material strength with rolled steels for welded structure, JIS SM490B (ASTM E). We investigated the deformation characteristics at room temperature by performing compression tests at a wide range of strain rates and applied the obtained experimental results to the material constitutive model using an optimization method of Nelder-Mead method. The quasi-static tests were conducted using a universal testing machine at the strain rate of 10-3, 10-2 and 10-1 s-1. The impact test was conducted using a split Hopkinson pressure bar apparatus at the strain rate of approximately 103 s-1. As the results of the compression tests, it was confirmed that SM490B has a positive strain rate dependence of material strength. The Cowper-Symonds constitutive model showed good agreement with the experimental results up to the strain of 20%. However, the error became larger between experimental results and CS approximation as the strain increases to 20% or more.