RAINBOW(Reduced And Internally Biased Oxide Wafers) are a new class of high-displacement, piezoelectric actuator produced by selectively removing oxygen from one surface of ceramic using a high-temperature chemical reduction process. In this paper, RAINBOW actuator materials of $0.4Pb(Ni_{1/3}Nb_{2/3})O_3-0.6Pb(Zr_{x}Ti_{1-x})O_3$ ceramics were prepared. Its dielectric and piezoelectric properties were investigated in the vicinity of MPB. The piezoelectric properties showed the maximum value of ${epsilon}r$ = 4871, $d_{33}$ = 610 ($10^{-12}$ m/V), $d_{31}$ = -299 ($10^{-12}$ m/V), $k_{33}$ = $71\%$, Qm = 70, in $0.4Pb(Ni_{1/3}Nb_{2/3})O_{3}-0.6Pb(Zr_{405}Ti_{595})O_3$ composition sintered at $1250^{circ}C$. The strain - electric field characteristics of RAINBOW actuator were significantly improved comparison with the conventional bulk actuator. The prepared RAINBOW actuator showed about $390;{mu}m/100;V$ displacement.