An accurate analytical expression for shot‐gather dip‐moveout (DMO) in the timespace log‐stretch domain has until now not been published. We present a simpler, alternative derivation of the exact DMO relationships of Black et al. which correctly take account of the repositioning of the midpoint. A new computationally efficient frequency‐wavenumber (F‐K) DMO operator for shot profiles is then derived, based on these DMO relationships in the time‐space log‐stretch domain. The newly derived DMO operator is, unlike most other log‐stretch DMO operators) accurate for the full range of reflector dips. Along with other schemes which are performed in the log‐stretch domain, it offers considerable time savings over conventional DMO processing. We have compared numerically the impulse response of the new operator with those of a number of other shot‐gather DMO operators, and found it to be superior and well match to the theoretical elliptical DMO response.