A framework of physically consistent homogenization and multiscale modeling (PCHMM) for reduced-order analysis of plate/shell structures is developed in this paper. To address the inapplicability of conventional periodic boundary conditions and Hill’s condition involved in homogenization of shear-deformable shell structures, the paper proposes physically consistent boundary conditions and modified Hill’s condition for plate/shells. Unlike the PCHMM method for beams, considering the contradiction between high-order displacement fields induced by shear forces and low-order kinematic assumptions, additional constraints are applied to the plate/shell structure sectional strains during the solution of perturbation fields. The correctness and effectiveness of the proposed plate/shell PCHMM framework and method are verified by typical numerical examples. The proposed theory can also be conveniently embedded into commercial finite element software for homogenization and multiscale analysis of structures such as microscale metamaterials like lattice plates and large complex structures like aircraft fuselage sections.