Iron-based shape memory alloy (Fe-SMA) is an emerging seismic energy dissipation material that has attracted considerable attention in the engineering field due to its superior low‑cycle fatigue resistance property. Fe-SMA shows unique mechanical behavior at room temperature compared with conventional steel. Besides, according to reported test results, the classical J2 flow theory, which forms the basis of modern plastic theory, fails to consider microscopic deformation mechanisms of Fe-SMA, neither it can appropriately describe the macroscopic phenomenological behavior of the material. In this study, a constitutive model that couples irreversible dislocations slip plastic strain and reversible transformation-induced plastic strain is proposed, and the corresponding numerical algorithm is developed. The proposed one-dimensional constitutive model demonstrates satisfactory accuracy in describing the cyclic behavior of Fe-SMA under different strain range.