Helioseismic measurements at high degree l are sensitive to mode couplings induced by large‐scale flows, with the largest contribution coming from the solar differential rotation. The coupling becomes strong at high degree l, when frequency spacings between interacting modes become small, calling for a more accurate theoretical prediction of the mode‐coupling effects in helioseismic data analysis. In this paper, the currently available description based on the quasi‐degenerate perturbation theory is developed to a higher order, and extended to include the possible contributing effects of solar meridional circulation. A semi‐analytic asymptotic description is developed for effects of the centrifugal forces on the oscillation frequencies of high degree l. Numerical estimates of the corresponding effects in the observational data are discussed.