A model describing mechanical behaviour of nanocrystalline materials (NC) obtained by crystallization from amorphous precursor is presented. In the framework of this model a structure of such NCs is represented as a composite consisting of amorphous matrix and absolutely rigid inclusions corresponding to crystalline phase. Dependencies of stress concentration coefficient and yield stress of NCs on the average grain size are obtained. It is shown that the dependence of the yield stress has a point of inflection at the critical grain size in the range of 20–25 nm and is inverse to the Hall-Petch relationship at grain sizes smaller than the critical one. The model predicts a formation of a superlattice from disclinations located in triple junctions of grains on the stage of NC plastic flow. A process of the plastic flow of NC's amorphous matrix and amorphous metallic alloys is described as a go-ahead mechanism of dislocation movement, which includes emission, absorption and reemission of dislocations by disclinations.