A new approach is suggested for determining the kinetic parameters and rate constants of the elementary steps of reversible chain reactions having self-acceleration periods due to the long time required for the concentrations of the chain-carrier radicals to reach their steady-state values. This approach is illustrated by the example of the reversible chain reaction between N,N′-diphenyl-1,4-benzoquinonediimine and 2,5-dichlorohydroquinone in chlorobenzene. The disappearance rate of one of the initial reactants, N,N′-diphenyl-1,4-benzoquinonediimine, at the inflection point of its disappearance curve, is considered as the basic kinetic characteristic of the reaction. The empirical function y = aexp(bt c ) + d, where a, b, c, and d are the fitted parameters (b 1), is suggested for approximating the S-shaped kinetic curves and for calculating the reaction rate. The rate constants of the elementary steps are preferably derived from experimental data obtained at equal concentrations of the initial reactants, and also product additions when their effect on the reaction rate is studied. The effective rate constant of chain termination is derived from the time to reach the steady state. The results obtained in this way are compared with earlier data obtained using the “initial” reaction rates calculated by means of exponential approximation of portions of N,N′-diphenyl-1,4-benzoquinonediimine disappearance curves after the inflection point.