Frost heave can lead to both the ground uplifting and frost heave pressure under different circumstances, and cause many engineering problems. To describe the characteristics of frost heave under various thermo‐hydro‐mechanical (THM) coupling conditions and calculate both the frost heave amount and the frost heave pressure, the coupled THM process, as well as the phase change of the pore water, should be considered for freezing soil. In this paper, thermodynamic equilibrium conditions in saturated freezing soil were derived to account for the mechanical effect on the cryogenic suction and unfrozen saturation of pore water during phase transition. Then the governing equations were developed considering the water flow, heat transfer, stress equilibrium, phase change, ice segregation, and their complex interactions. Based on that, a numerical model considering fully THM coupling is presented within the framework of finite element provided by COMSOL. Both frost heave amount tests and frost heave pressure tests were simulated to verify the proposed model. Then the model was applied to subgrades with different types of soil and different boundary conditions, to reveal the characteristics of frost heave amount and frost heave pressure under different conditions, and at the same time to demonstrate the model's applicative prospect.