Multiple interference fits represent high friction‐stressed shaft‐hub connections. High surface pressures together with thin‐walled intermediate parts lead to high stresses and showing strong tendencies to plastic deformations. Cylindrical interference fits and their elasto‐plastic behaviour have been analysed in the literature. However, in the case of multiple interference fits, these methods are not applicable. In this paper, we derive a new calculation method for elasto‐plastically deformed multiple interference fits with hardening material. The analytical method is validated by the comparison of the determined stresses and displacements of several test cases with the solutions of corresponding axisymmetric finite element models.