This paper presents a new model for hysteresis compensation of a piezostack in order to improve position control accuracy. After establishing the hysteretic relationship between output displacement of the piezostack actuator and input voltage by adopting Preisach model, a rate-dependent hysteretic compensator proposed in this work is formulated. The proposed compensator consists of two components: a rate-independent hysteresis cascaded with a dynamic component. From the first component, a compensator is designed based on the inverse Preisach model. And then, the dynamic component is eliminated using a nonlinear lag controller. In order to tune this controller, a root least square (RLS) inverse identification method is used. In order to demonstrate the effectiveness of the proposed hysteretic compensator, micro-position control performances are experimentally evaluated in time domain. Control performances are evaluated upon three different input voltage conditions: constant frequency, chirp and random waveforms. In addition, a comparative work between the proposed compensator and conventional rate-independent compensator is undertaken.