The purpose of this paper is to evaluate the shear stiffness, hysteretic behavior, and ultimate behavior of HDRB(High Damping Rubber Bearing), which will be included in the seismic isolation design guideline as requirements. To do this, two 1/8 scaled HDRB are designed, fabricated, and tested to show the mechanical characteristics. The shear stiffness obtained from the proposed equation of the shear stiffness shows a good agreement with those of the experiments. For analysis of the hysteretic behavior of HDRB using the modified rate model, the parameter equations are obtained from the experiments. Using the obtained parameter equations for the modified rate model, the seismic response analyses are carried out for 1-D system. The results of analysis well follow the hysteretic behavior of HDRB obtained from the experiments. To evaluate the ultimate behavior of HDRB used in this paper, the analyses are carried out using the modified macro model, which can consider the large shear deflection. The critical shear strain(CSS) is defined to express the maximum allowable shear strain and vertical load. From the analyses, the CSS, showing the instability, decreases significantly as increased the vertical loads. The CSS is not appeared for the design vertical load in the used HDRB. In analysis using about 5 times of design vertical load, the HDRB start to show the instability transient and for about 7 times, the CSS is about 350%.