SummaryTo overcome complexities and shortcomings of previous studies, a new method is proposed to derive an equivalent linear model for predicting seismic hysteretic energy demand of bilinear single degree of freedom (SDOF) models. A new displacement spectrum is defined, which represents hysteretic energy. It is found that by increasing initial period and damping of a nonlinear system in the correct proportion and defining a linear model with these characteristics, the new developed displacement can be achieved. Error minimization is applied through an algorithm to find the optimum equivalent period corresponding to an equivalent damping utilizing two sets of far‐field and near‐field earthquakes. To analyze the effects of stiffness degradation, the proposed algorithm has been implemented on modified Clough hysteretic model as well. Comparing the results, effects of stiffness degradation on the ratio of equivalent to initial period is evident in the short period range, while with increasing initial period, the effect can almost be neglected at higher values of ductility. Nonlinear regression analysis is carried out to provide the equations for predicting equivalent linear parameters as a function of ductility. Despite the previous predictive equations, the proposed model is independent of earthquake characteristics and response‐related parameters, which has increased efficiency as well as simplicity.