One of the most important issues related to the strength of metals is the strain rate sensitivity of the flow stress. In this study, an analytical model of the flow stress as a function of strain rate is derived theoretically. The model can reproduce the strain rate sensitivity of the flow stress of copper over a wide range of strain rates (up to 109 s−1) quantitatively. Our theoretical derivations indicate that the strain rate sensitivity of the flow stress, especially that above 103 s−1, is a result of both the variation of the dislocation mobility mechanism with stress and the particular stress dependence of dislocation density but is not a result of each single mechanism. In particular, the stress dependence of the dislocation density and the initial dislocation density are critical to the quantitative relation of the flow stress–strain rate at high strain rate and the strain rate threshold, under which the upturn of the flow stress occurs, respectively. Moreover, experiments with copper of different initial dislocation densities at moderate and high strain rate are performed. The strain rate threshold of the flow stress upturn observed in the experiments grows considerably as initial dislocation density increases, which is in accordance with theoretical prediction by our model.