A model for flow‐induced crystallization is developed which is based on ideas from the theory of strain‐induced crystallization, coupled with an irreversible thermodynamic formalism based on the continuum Hamiltonian Poisson Brackets. The latter allows accounting for the changing energetics during simultaneous flow deformation and extended‐chain crystallization. Input parameters to the model include the molecular relaxation time, a crystallization parameter, and the molecular weight. Calculations of the crystallization rate, chain elongation, stress, and birefringence are presented for a variety of flow kinematics and flow histories, including transient processes following cessation of flow. Induction times based on a reasonable choice for the induction crystallinity follow experimentally observed trends reported in the literature. © 1996 John Wiley & Sons, Inc.