Superplastic behaviour of Mg-alloy AZ31 was investigated to clarify the possibility of its use for superplastic forming (SPF) and to accurately evaluate material characteristics under a biaxial stress by utilizing a multi-dome test. The material characteristics were evaluated under three different superplastic temperatures , 643, 673, and 703 K in order to determine the most suitable superplastic temperature. Finite Element Method (FEM) simulation of rectangular pan forming was carried out to predict the formability of the material into a complex shape. The superplastic material properties are used for the simulation of a rectangular pan. Finally, the simulation results are compared with the experimental results to determine the accuracy of the superplastic material characteristics. The experimental results revealed that the m values are greater than 0.3 under the three superplastic temperatures, which is indicative of superplasticity. The optimum superplastic temperature is 673 K, at which a maximum m value and no grain growth were observed. The results of the FEM simulation revealed that certain localized thinning occurred at the die entrance of the deformed rectangular pan due to the insufficient ductility of the material. The simulation results also showed that the optimum superplastic temperature of AZ31 is 673 K.