The present study is aimed to investigate bubble dynamics in a soft tissue, to which HIFU's continuous harmonic pulse is applied by introducing a viscoelastic cavitation model. After a comparison of some existing cavitation models, we decided to employ Gilmore-Akulichev model. This chosen cavitation model should be coupled with the Zener viscoelastic model in order to be able to simulate soft tissue features such as elasticity and relaxation time. The proposed Gilmore-Akulichev-Zener model was investigated for exploring cavitation dynamics. The parametric study led us to the conclusion that the elasticity and viscosity both damp bubble oscillations, whereas the relaxation effect depends mainly on the period of the ultrasound wave. The similar influence of elasticity, viscosity and relaxation time on the temperature inside the bubble can be observed. Cavitation heat source terms (corresponding to viscous damping and pressure wave radiated by bubble collapse) were obtained based on the proposed model to examine the cavitation significance during the treatment process. Their maximum values both overdominate the acoustic ultrasound term in HIFU applications. Elasticity was revealed to damp a certain amount of deposited heat for both cavitation terms.