An important issue in the field of motion control of wheeled mobile robots is that the design of most controllers is based only on the robot’s kinematics. However, when high-speed movements and/or heavy load transportation are required, it becomes essential to consider the robot dynamics as well. The control signals generated by most dynamic controllers reported in the literature are torques or voltages for the robot motors, while commercial robots usually accept velocity commands. In this context, we present a velocity-based dynamic model for differential drive mobile robots that also includes the dynamics of the robot actuators. Such model has linear and angular velocities as inputs and has been included in Peter Corke’s Robotics Toolbox for MATLAB, therefore it can be easily integrated into simulation systems that have been built for the unicycle kinematics. We demonstrate that the proposed dynamic model has useful mathematical properties. We also present an application of such model on the design of an adaptive dynamic controller and the stability analysis of the complete system, while applying the proposed model properties. Finally, we show some simulation and experimental results and discuss the advantages and limitations of the proposed model.