An anisotropic quadratic form of plastic strain increment is used to define the intrinsic time in the endochronic theory of plasticity. Based on this new definition, a yield function can be derived. This new version of endochronic theory can describe the expansion, translation, rotation, and distortion of the yield surface. While the initial yielding is in the form of the Mises yield criterion, the distortion of subsequent yield surfaces is expressed by the compression or sl:retching of the Mises yield surface. The effect of sharp front and blunt rear of the yield surface is considered to be of secondary importance and neglected in the interest of keeping the equations simple. This idealization will not much affect the prediction power of the model, because the plastic strain increment is in the radial direction emanating from the center of the current yield surface and is not normal to the current yield surface. In this theory, the plastic deformation is thus not sensitive to the exact shape of the yield surface. It has been shown that the proposed theory is capable of describing the experimental results of three different metals considered. The test series investigated include several different paths of prestress.