This paper is concerned with characterizing the quasistatic mechanical behaviour of arterial tissue undergoing finite deformation through hyperelastic constitutive functions. Commonly the parameters of constitutive functions are established by a process of optimization based on experimental data. Instead we construct a finite element model of a representative volume element of the material and compute its homogenized response to a range of deformations. These data are then used to provide objective functions for optimizing the parameters of two analytical models from the literature.