The evolution of a structural–temporal integral criterion of yielding is reported for the description of the dynamic deformation of metals. The values of characteristic relaxation times, considered as the constants of the material, are shown to be suitable for the description of dynamic effects upon the nanomaterial deformation in a wide range of loading rates. Three various ways of the determination of characteristic relaxation time of nanomaterials are discussed. The behavior of the ultimate stress in the range of pulse duration from one and two points of change in the dominant mechanism of rate sensitivity is interpreted in the context of integral criterion of yielding.