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A model is presented for the stress‐dependent effective field, which when used in conjunction with the Jiles–Atherton theory, qualitatively accounts for (1) the change in slope and shape of the hysteresis curves with uniaxial stress and (2) the convexity of the curves depicting remanent and peak magnetization as a function of stress. Also, the model can produce the Villari reversal if parameters are selected appropriately.