Today, due to ever-increasing demand for fast and precise movements and changes, along with small-scale actuations in many engineering fields, the use and efficiency of smart materials has increased in importance. Magnetic Shape Memory Alloy (MSMA) is one of the latest smart materials having both shape memory and magnetic properties. As a matter of fact, in normal room temperatures, it has magnetic field-induced strains far more than any other smart materials such as magnetostrictive, piezoelectric or electrostrictive materials and its frequency response is greater than thermal shape memory alloy. However, on the downside, asymmetric hysteresis is a property that constrains its widespread applications. Prandtl-Ishlinskii model is one of the powerful phenomenological models for simulating asymmetric, non-linear hysteresis used to simulate smart material behavior. In the present study, MSMA hysteresis behavior simulation has been investigated through a new approach using generalized Prandtl-Ishlinskii model. After identifying the model parameters, the study compares the predicted output with the experimental results. For validation the model, using different data, model accuracy has been checked and prediction error has been compared. The experimental results have approved the capability of the model in predicting the hysteresis behavior. Thanks to invertible and simplicity potential of the generalized Prandtl-Ishlinskii model, the inverse of model can be applied as a feedforward controller for compensating the hysteresis behavior. It should also be noted that all the experimental results have been yielded through using experimental set-up.