AbstractUsing the recently developed traction‐associated peridynamic motion equation (TPME), we investigate the plane axisymmetric problems of elastic deformation. The polar coordinate form of TPME is derived for a plane axisymmetric problem. The transfer function matching with prototype microelastic (PM) model is determined by the inverse method in a one‐dimensional case, and then it is directly extended to plane axisymmetric elasticity problems and plane problems. We promote a strategy to deal with the horizon in the non‐uniform discretization scheme. Based on this strategy, the non‐uniform discretization scheme is used to solve the elastic deformation of a hollow circular plate subjected to uniform inner and outer pressures. Total process from elastic deformation to failure of the hollow circular plate under tension is simulated completely. The results show that TPME does not only need volume and surface corrections, but also can deal with the complex traction boundary conditions conveniently.