The new axially pre-compressed macro-fiber composite bimorph (MFC-PBP) can produce large displacement and output power. However, it has the property of strong rate-dependent hysteresis nonlinearity, which challenges the displacement tracking control of morphing structures. In this paper, the least-squares support vector machine (LS-SVM) is applied to model the rate-dependent hysteresis of MFC-PBP. Compared with the predicated results of the series model of the Bouc–Wen model and Hammerstein model (BW-H), the LS-SVM model achieved higher predication accuracy and better generalization ability. Based on the LS-SVM hysteresis compensation model, with the support vector pruning, the displacement tracking feedforward compensator is obtained. In order to improve the displacement tracking accuracy, the LS-SVM feedforward compensator combined with the proportional and integral (PI) controller and the feedforward plus feedback control experiment is carried out on the displacement tracking of MFC-PBP. The test results show that the feedforward plus feedback displacement tracking control loop based on the LS-SVM model also has a higher displacement tracking accuracy than that based on the inverse model of BW-H.