During micro‐injection molding, the polymer melt may undergo a shear rate up to 106 s−1, at which the rheological behaviors are obviously different from those in conventional molding process. Using both online and commercial rheometers, high‐shear‐rate capillary rheology of polystyrene (PS) melt is analyzed systematically in this work. The accurate end pressure drop and pressure coefficient of viscosity are determined via the enhanced exit pressure technique. Experimental and theoretical investigations are conducted on four significant effects, that is, the dissipative heating, end pressure loss, pressure dependence, and melt compressibility in capillary flow. For the PS melt, which exhibits distinct temperature and pressure dependence of viscosity, both dissipation and end effects become pronounced as the shear rate exceeds 2 × 105 s−1. From lower to higher shear rates (103–106 s−1), the competition between dissipation and pressure effects results in the overestimation to underestimation of Bagley‐corrected pressure drop, and finally the comprehensively corrected viscosity becomes about half of the uncorrected one owing to the enhanced superimposed effects. Moreover, the compressibility shows a minor influence on the shear viscosity. Under the shear rate range investigated, the power‐law relationship is sufficient for describing the corrected viscosity curve of PS melt used. POLYM. ENG. SCI., 2013. © 2012 Society of Plastics Engineers