Magnetic materials exhibiting giant magnetostriction, such as Terfenol, are currently widely used in fine positioning and active vibration damping devices. Obviously, using accurate magnetostriction simulation models during the various design stages of those devices can positively contribute to the enhancement of their precision. This paper presents an efficient approach, based on fuzzy inference systems, for modeling magnetostrictive media. More precisely, the proposed approach offers a computationally low-cost methodology to model interdependencies of strain and flux density on applied stress and magnetic field. The paper gives details of the modeling methodology and its experimental testing.