The hard-magnetic soft materials (HMSMs) belong to the magnetoactive category of smart polymers that undergo large actuation strain under an externally applied magnetic field and can sustain a high residual magnetic flux density. Because of these remarkable characteristics, HMSMs are promising candidates for the remotely controlled actuators. The magnetic actuation behavior of the hard-magnetic soft actuators (HMSAs) is considerably affected by the viscoelastic material behavior of HMSMs. In this article, we aim at developing an analytical dynamic model of a typical planar model of HMSAs concerning the viscoelasticity of HMSMs. A Zener rheological model in conjunction with an incompressible neo-Hookean model of hyperelasticity and Rayleigh dissipation function is employed for defining the constitutive behavior of the viscoelastic HMSA. The governing equations of dynamic motion are deduced by implementing the nonconservative form of the Euler–Lagrange equation. The established dynamic model is utilized for providing preliminary insights pertaining to the effect of the viscoelasticity on the nonlinear oscillations of the actuator. The phase–plane portraits, Poincaré maps, and the time–history response are plotted to investigate the stability, resonant behavior, and periodicity of the actuator. The results and inferences reported here should provide the initial step toward the design and the development of modern actuators for diverse futuristic applications in the medical and engineering fields.