This work presents a new nonlinear model to describe MR fluid behavior in the squeeze flow mode. The basis for deriving the model were the principles of continuum mechanics and the theory of tensor transformation. The analyzed case concerned quasi-static squeeze with a constant area, between two parallel plates with non-slip boundary conditions. The developed model takes into account the rheological properties or MR fluids as a viscoplastic material for which yield stress increases due to compression. The model also takes into account the formation of normal force in the MR fluid as a result of the magnetic field impact. Moreover, a new parameter has been introduced which characterizes the behavior of MR fluid subjected to compression. The proposed model has been experimentally validated and the obtained results suggest that the assumptions made in the model development are reasonable, as good model compatibility with the experiments was obtained.