Deformation produced in single‐crystal olivine samples by shock wave stresses ranging between 16 and 75 GPa are documented by microscopy and spectroscopy. No evidence was found for phase transformation throughout the ‘mixed‐phase’ region (about 25 to 70 GPa) contrary to expectations based on the current interpretations of Hugoniot data. Samples retrieved from peak pressures above 20 GPa exhibit extensive plastic strain; a distinctive microundulatory extinction (mosaicism) is associated with elevated dislocation densities. Shock effects in olivine are relatively minor compared to those typical of other silicates: only traces of diaplectic glass are found at pressures above about 50 GPa, and there is no evidence of melting, recrystallization, or recovery. Although civilian (reconstructive) phase transformation has been previously inferred from the Hugoniot data for olivine, this textural evidence is inconsistent with such a process. Calculations of transformation rates for olivine similarly indicate that reconstructive phase transformation is very unlikely under experimental shock conditions and that the Hugoniot data represent highly nonequilibrium states. A new, crystallographically based model is presented for the behavior of olivine under shock: it successfully reproduces the Hugoniot data and is in accord with all available observations. According to this model, olivine is compressed into a slighlty randomized, olivinelike structure at shock pressures above about 20–30 GPa and does not undergo a polymorphic transformation or an increase in cation coordination number. Some evidence indicates that many other silicates may behave similarly and remain untransformed in shock experiments. The results of this study suggest that the current interpretations of shock wave data for silicates and their geophysical applications may need reappraisal.