This research was devoted to unveiling the strain rate sensitivity (SRS) of G18NiCrMo3-6 cast steel in tension/compression asymmetry. For that purpose, detailed mechanical characterization tests were conducted providing a process window covering quasi-static and medium strain rate regimes (0.001, 0.1, 10 [s−1]) in tension and compression states. Through this experimental effort, the SRS of the material could be extracted by a function of strain and the strain rate which enabled us to create a mathematical expression to easily be implemented as a state variable for constitutive material modeling. Finally, a pressure- and rate-dependent constitutive material model on the basis of the Cocks’89 yield locus definition was created using a subroutine (UMAT) file and the material parameters were verified with respect to the experimental data. The UMAT file also takes into account the tension/compression asymmetry in yielding to handle the effect of the porous media plasticity concept. The predictions of the proposed material model are in line with the experimental outputs.