AbstractKinetic models for the induction period (IP) of lipid oxidation were developed to predict the shelf‐life of perilla oil during storage. The degree of lipid oxidation was measured in terms of peroxide values (PV). The perilla oil was stored in the dark at various temperatures. The IP was measured at the intersection point of two linear lines and in terms of time and PV at the IP. The IP was expressed by an Arrhenius‐like relationship. Before and after the IP, the reaction followed pseudo‐zero‐order kinetics. The oxidation degrees according to storage times were computed by considering the variables, IP and reaction rate constants. The prediction model equation that was developed to determine shelf‐life is more accurate than in previous studies. Conclusively, considering the IP of lipid oxidation is essential for predicting the shelf‐life of perilla oil and is expected to be applicable to other vegetable oils.Practical applications: In kinetic modeling for shelf‐life estimation in terms of lipid oxidation, induction period (IP) is rarely considered. Thus the estimation of peroxide values (PV) from such models might be inaccurate. The IP was observed in perilla oil oxidation and kinetic models involving the IP were developed. This work enables a better estimation of oxidation. Besides, a shelf‐life diagram of perilla oil has been constructed as a valuable tool for quality control in the food industry.