The present work describes a co-rotating shear flexible beam element without shear locking and integrating Euler-Bernoulli's and Timoshenko's beam theories. The co-rotational kinematics is based on the separation of the motion in deformational and rigid body components. The deformation of the beam element is composed by three natural modes of deformation: the extension mode, the symmetric bending mode, and the anti-symmetric bending mode. The respective generalized stresses from these natural modes are self-balanced, allowing the achievement of a consistent tangent stiffness matrix. In this paper, it is detailed and deduced all the algebraic steps for the deduction of the elastic stiffness matrix, the geometric stiffness matrix, and the co-rotation stiffness matrix. Some examples are presented and the numerical results demonstrate that the beam element here presented is able to handle large rotations.