In view of the importance of solvent extraction of rare earth metals with the acidic organophosphorous reagent, the development of a chemically based model applicable to high concentration is desired. In the present study, the equilibrium distribution of dysprosium(Ⅲ) between an aqueous nitric acid solution and 2-ethylhexylphosphonic acid mono-2-ethylhexyl ester (PC88A) was measured in the range of an initial aqueous dysprosium(Ⅲ) concentration from 1.0×10-3 to 1.0×10-1 kmol/m3 and PC88A concentration from 0.16 to 0.65 kmol/m3 in Shellsol D70 as the diluent. The obtained data were analyzed using the chemically based model in order to correlate the equilibrium distribution ratios. In this model, dysprosium(Ⅲ) was assumed to be extracted with the PC88A dimer as a 1:3 complex, the activities were considered for the aqueous species, and the effective concentration of the PC88A dimer was calculated using Alstad's empirical equation. As a result, the apparent extraction equilibrium constant was determined to be 253 (kmol-m-3)-2 with an excellent correlation between the experiment and calculation results in the wide range of the logarithm of the distribution ratio from -2 to 3.5. In conclusion, the methodology in this model would be effective for quantitative description of solvent extraction behavior of general rare earth elements as well as dysprosium.