In this paper, we analytically dealt with the usually so-called prestressed annular membrane problem, that is, the problem of axisymmetric deformation of the annular membrane with an initial in-plane tensile stress, in which the prestressed annular membrane is peripherally fixed, internally connected with a rigid circular plate, and loaded by a shaft at the center of this rigid circular plate. The prestress effect, that is, the influence of the initial stress in the undeformed membrane on the axisymmetric deformation of the membrane, was taken into account in this study by establishing the boundary condition with initial stress, while in the existing work by establishing the physical equation with initial stress. By creating an integral expression of elementary function, the governing equation of a second-order differential equation was reduced to a first-order differential equation with an undetermined integral constant. According to the three preconditions that the undetermined integral constant is less than, equal to, or greater than zero, the resulting first-order differential equation was further divided into three cases to solve, such that each case can be solved by creating a new integral expression of elementary function. Finally, a characteristic equation for determining the three preconditions was deduced in order to make the three preconditions correspond to the situation in practice. The solution presented here could be called the extended annular membrane solution since it can be regressed into the classic annular membrane solution when the initial stress is equal to zero.