In this study, constitutive equations for superplastic materials with an extra large elongation were investigated through mechanical analysis. From the view of phenomenology, firstly, some traditional empirical constitutive relations were standardized by restricting some strain paths and parameter conditions, and the coefficients in these relations were strictly given new mechanical definitions. Subsequently, a new, general constitutive equation with varying parameters was theoretically deduced based on the general mechanical equation of state. The superplastic tension test data of Zn-5%Al alloy at 340 °C under strain rates, velocities, and loads were employed for building a new constitutive equation and examining its validity. Analysis results indicated that the constitutive equation with varying parameters could characterize superplastic flow behavior in practical superplastic forming with high prediction accuracy and without any restriction of strain path or deformation condition, showing good industrial or scientific interest. On the contrary, those empirical equations have low prediction capabilities due to constant parameters and poor applicability because of the limit of special strain path or parameter conditions based on strict phenomenology.