The paper reports on extensive experimental work for the characterization of a dielectric elastomer used as base material for electroactive polymer (EAP) actuators. The mechanical behavior of the acrylic elastomer VHB 4910 is characterized using large strain experiments (uniaxial and equibiaxial deformation) under force and displacement controlled loading conditions. Next to tensile and relaxation tests, experiments were conducted also using the so-called circular actuators. Over 40 actuators were produced (with different in-plane pre-strain levels) and activated with voltages between 2000 and 3500 V. The experimental data are useful for determining constitutive model parameters as well as for validating models and simulation procedures for electromechanical coupling in EAP actuators. A novel approach is proposed for finite element analysis of dielectric elastomer actuator, which has been used in the present work for the evaluation of the experimental observations from circular actuators. Material parameters of different visco-hyperelastic models have been determined from a subset of the experimental data and the predictive capabilities of the models evaluated through comparisons with the remaining data. The prediction of the circular actuator behavior was satisfactory so that the proposed models might be useful for actuator design and optimization purposes. Limitations of the proposed constitutive model formulation are presented.