Formation used as trackbed foundation for providing vertical bearing capacity onto rail foundation are composed of crushed stones usually with certain type of grain size distribution. Permanent deformation in trackbed foundation can be generated by increasing number of load repetition due to train traffic increases, causing track irregularity. In this study, a specially prepared trackbed foundation materials (M-40) used in Korea has been tested using a large repetitive triaxial compression apparatus in order to understand resilient and permanent deformation characteristics of the material. From these test results, resilient and permanent deformation characteristic are analyzed so that a permanent deformation model is developed which can consider number of load repetition N, confining stress (${sigma}_3$), shear stress ratio(${ au}/{ au}_f$) and stiffness of the material.