The paper studies the problem of fluid flow and fluid shear stress in canaliculi when the osteon is subject to external mechanical loading and blood pressure oscillation. The single osteon is modeled as a saturated poroelastic cylinder. Solid skeleton is regarded as a poroelastic transversely isotropic material. To get near-realistic results, both the interstitial fluid and the solid matrix are regarded as compressible. Blood pressure oscillation in the Haverian canal is considered. Using the poroelasticity theory, an analytical solution of the pore fluid pressure is obtained. Assuming the fluid in canaliculi is incompressible, analytical solutions of fluid flow velocity and fluid shear stress with the Navier-Stokes equations of incompressible fluid are obtained. The effect of various parameters on the fluid flow velocity and fluid shear stress is studied.