Herein, a science‐based uranium and plutonium mixed oxide (MOX) property model is derived for determining the properties of MOX fuel and analyzing their performance as functions of Pu content, minor‐actinide content, oxygen‐to‐metal ratio, and temperature. The property model is constructed by evaluating the effect of phonons and electronic defects on the heat capacity and thermal conductivity of MOX fuels. The effect of phonons was evaluated based on experimental datasets related to lattice parameters, thermal expansion, and sound speeds. Moreover, the effect of electronic defects was determined by analyzing oxygen‐potential data based on defect chemistry. Furthermore, the model evaluated the effect of the Bredig transition on the thermal properties of MOX fuel by analyzing the irradiation test results. The derived property model is applied to the performance code to analyze fast reactor fuel pins.