Modeling and control of hysteresis exhibiting in smart material based actuators is a challenging task. In literature, many mathematical models have been proposed to describe the hysteresis. To explain how to effectively mitigate the hysteresis effects in the actuators of control systems, this paper copes with modeling and compensation for hysteresis of shape memory alloy (SMA) actuators using Preisach hysteresis model. By exploiting properties of the model, a method to find memory interface line of the model is proposed. Furthermore, methods of identification and numerical implementation of the model and inverse algorithms of the model are introduced. Finally, the Preisach model and its inverse operator are cascaded as an open-loop compensation configuration to reduce the hysteresis effects in the actuators. The approaches are illustrated through simulations performed on a two-wire SMA actuator.