Shrinkage behavior of a plastic plays a critical role in determining the final dimensions of an injection‐molded part. It is well known that process conditions affect many properties of plastic parts, including shrinkage. This study applies the Taguchi method to systematically investigate the effects of process conditions on the shrinkage (along‐ and across‐the‐flow directions) of three plastics: high‐density polyethylene (HDPE), general‐purpose polystyrene (GPS), and acrylonitrile‐butadiene‐styrene (ABS). The results show that HDPE, a semicrystalline plastic, shrinks more than GPS and ABS, two amorphous materials. The extent of anisotropic shrinkage in the along‐the‐flow and across‐the‐flow directions for HDPE is different from GPS and ABS. More shrinkage occurs in the across‐the‐flow direction of HDPE than in its along‐the‐flow direction. The reverse is true for GPS and ABS. Mold and melt temperatures, along with holding pressure and holding time, are the most significant influences on the shrinkage behaviors of three materials, although the importance of each is different for each plastic. The optimal conditions for reducing shrinkage identified by the Taguchi method are experimentally verified and validated by t‐statistic tests. The prediction matches very well with the experimental value for the along‐the‐flow shrinkage of GPS.