Using a Rheometries Fluids Spectrometer (RFS II), the dynamic viscoelastic properties of aqueous poly(ethylene oxide) (PEO) solutions in small amplitude oscillatory shear flow fields have been measured over a wide range of angular frequencies. The angular frequency dependence of the storage and loss moduli at various molecular weights and concentrations was reported in detail, and the result was interpreted using the concept of a Deborah number De. In addition, the experimentally determined critical angular frequency at which the storage and loss moduli become equivalent was compared with the calculated characteristic time (or its inverse value), and their physical significance in analyzing the dynamic viscoelastic behavior was discussed. Finally, the relationship between steady shear flow and dynamic viscoelstic properties was examined by evaluating the applicability of some proposed models that describe the correlations between steady flow viscosity and dynamic viscosity, dynamic fluidity, and complex viscosity. Main results obtained from this study can be summarized as follows: (1) At lower angular frequencies where De<1, the loss modulus is larger than the storage modulus. However, such a relation between the two moduli is reversed at higher angular frequencies where De>l, indicating that the elastic behavior becomes dominant to the viscous behavior at frequency range higher than a critical angular frequency. (2) A critical angular frequency is decreased as an increase in concentration and/or molecular weight. Both the viscous and elastic properties show a stronger dependence on the molecular weight than on the concentration. (3) A characteristic time is increased with increasing concentration and/or molecular weight. The power-law relationship holds between the inverse value of a characteristic time and a critical angular frequency. (4) Among the previously proposed models, the Cox-Merz rule implying the equivalence between the steady flow viscosity and the magnitude of the complex viscosity has the best validity. The Osaki relation can be regarded to some extent as a suitable model. However, the DeWitt, Pao and HusebyBlyler models are not applicable to describe the correlations between steady shear flow and dynamic viscoelastic properties.