The paper presents the experimental and numerical research of dynamic mechanical properties of magneto-sensitive elastomeric composites (MECs). The isotropic and anisotropic MEC samples are produced from silicone matrix filled by magnetically sensitive micro-sized carbonyl iron particles. Dynamic double-lap shear tests are conducted for both isotropic and anisotropic MEC specimens under various frequencies of loading and magnetic field intensities. The stiffness and damping properties of the MECs increased with increasing of the frequency and magnetic intensity. The dynamic properties of the anisotropic MECs were higher than those of the isotropic ones. The dependency of dynamic moduli on frequency and magnetic field is studied using the four-parameter fractional Zener model with fractional derivatives on stress and strain. The four-parameter fractional viscoelastic model was fitted quite well to experimental data for both isotropic and anisotropic MECs. The fitting of the storage and loss moduli for isotropic and anisotropic MECs is in good agreement with experimental results in the middle of investigated frequency band.