EDITED FROM PAPER: We present mass models of the four-image gravitational lens system B1608+656. A mass model for the lens galaxies has been determined that reproduces the image positions, two out of three flux-density ratios and the model time delays. Using the time delays determined by Fassnacht et al. (1999a), we find that the best isothermal mass model gives H_0=59^{+7}_{-6} km/s/Mpc for Omega_m=1 and Omega_l=0.0, or H_0=(65-63)^{+7}_{-6} km/s/Mpc for Omega_m=0.3 and Omega_l = 0.0-0.7 (95.4% statistical confidence). A systematic error of +/-15 km/s/Mpc is estimated. This cosmological determination of H_0 agrees well with determinations from three other gravitational lens systems (i.e. B0218+357, Q0957+561 and PKS1830-211), SNe Ia, the S-Z effect and local determinations. The current agreement on H_0 from four out of five gravitational lens systems (i) emphasizes the reliability of its determination from isolated gravitational lens systems and (ii) suggests that a close-to-isothermal mass profile can describe disk galaxies, ellipticals and central cluster ellipticals. The average of H_0 from B0218+357, Q0957+561, B1608+656 and PKS1830-211, gives H_0(GL)=69 +/-7 km/s/Mpc for a flat universe with Omega_m=1 or H_0(GL)=74 +/-8 km/s/Mpc for Omega_m=0.3 and Omega_l=0.0-0.7. When including PG1115+080, these values decrease to 64 +/-11 km/s/Mpc and 68 +/-13 km/s/Mpc (2-sigma errors), respectively.
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