In this study, we analyzed the inertia effect on the axisymmetric squeeze flow of slightly viscoelastic fluid film between two disks. A system of nonlinear partial differential equations (PDEs) in cylindrical coordinates, along with nonhomogenous boundary conditions, illustrates the phenomenon of fluid flow caused by squeezing with the inertia effect. The Langlois recursive approach was applied to obtain the analytical solution of the system having a stream function, axial and radial velocities, pressure distribution, normal and tangential stresses and normal squeeze force. These flow variables are also portrayed graphically to describe the effects of the Reynolds number and slightly viscoelastic parameter. The results show that by increasing the Reynolds number, the velocity profile decreases, and both the pressure distribution and shear stresses increase. Moreover, there is a small increase in normal squeeze force. When the slightly viscoelastic parameter approaches zero, the obtained solution of flow variables matches with the classical results. This study can be applied to understand the mechanism of load-bearing features in thrust bearings and in arthrodial human joint (knee and hip) diseases.