In this paper, a framework is proposed for topology optimization of continuum structures considering plasticity. The method merges the rigid‐plastic analysis and the density‐based topology optimization. To obtain a clean black‐and‐white design, the density in the objective function is penalized using an exponential function. The solution of the final plasticity‐based topology optimization problem exhibits as a sequence of second‐order cone programming (SOCP) problems that can be resolved efficiently using the advanced primal‐dual interior point method. Compared to the conventional stress‐constrained topology optimization techniques, the developed method accounts for plasticity and the finite element analysis of structures does not need to be carried out separately. Furthermore, the proposed method requires no relaxation techniques for imposing local stress‐constrain and possesses good computational efficiency for large‐scale problems.