The present study evaluates ratcheting response of materials by means of the Armstrong–Frederick (A–F) hardening rule, the modified A–F rule (Bower's model), and further modifications of the hardening rule based on new introduced coefficients. The implemented modifications on the A–F‐based hardening rule aims to address stages of ratcheting over stress cycles. The modified hardening rule predicts the ratcheting strain rate decay over stage I and the constant rate of strain accumulation during stage II. The modified hardening rule consisted of the coefficients of the hardening rule controlling stress–strain hysteresis loops generated over stress cycles during ratcheting process (Bower's modification on A–F rule) plus the coefficients controlling rates over stages of materials ratcheting deformation. Stress–strain‐dependent coefficients in the modified rule are responsible to compromise overprediction of ratcheting of A–F during stage I and the premature plastic shakedown beyond stage I induced by Bower's model. Ratcheting strain rate coefficients improved the hardening rule capability to calibrate and control the rate of ratcheting in stages I and II and enabled the modified hardening rule to predict ratcheting strain over a prolonged domain of stress cycles. The modified hardening rule was employed to assess ratcheting response of 304, 42CrMo, 316L steel and copper samples under uniaxial loading conditions. The predicted ratcheting values based on the modified hardening rule and the experimental ratcheting strains were found in good agreements.