In this study, the Multifeedback-Layer Neural Network (MFLNN) weights are trained by the Particle Swarm Optimization (PSO). This method (MFLNN-PSO) is applied to two different problems to prove accomplishment of the study. Firstly, a chaotic time series prediction problem is used to test the MFLNN-PSO. Also, the method is used for identification of a non-linear dynamic system. This study shows that the MFLNN-PSO can be used for dynamic system identification as well as controller design.