According to the principle of the magnetostriction generating mechanism, the control model of giant magnetostriction material based on magnetic field and the control method with magnetic flux density are developed. Furthermore, this control method is used to develop a giant magnetostrictive micro-displacement actuator (GMA) and its driving system. Two control methods whose control variables are current intensity and magnetic flux density are compared with each other by experimental studies. Finally, effective methods on improving the linearity and control precision of micro-displacement actuator and reducing the hysteresis based on the controlling magnetic flux density are obtained.