AbstractA new model of the temperature‐induced metamagnetic phase transitions is considered for the class of the two‐sublattice magnets with axial symmetry. The model Hamiltonian contains the usual Ising term as well as the coupling of the uniform strain with both exchange interaction and single ion anisotropy. Within the MFA all these couplings are found to be necessary to produce the metamagnetic phase change. The results are compared with experim