A new family of generalized‐α (G‐α) algorithm without overshoot is presented by introducing seven free parameters into the single‐step three‐stage formulation for solution of structural dynamic problems. It is proved through finite difference analysis that these algorithms are unconditionally stable, second‐order accurate and numerical dissipation controllable. The comparison of the new G‐α algorithms with the commonly used G‐α algorithms shows that the newly developed algorithms have the advantage of eliminating the overshooting characteristics exhibited by the commonly used algorithms while their excellent property of dissipation is preserved. The numerical simulation results obtained using a single‐degree‐of‐freedom system and a two‐degree‐of‐freedom system to represent the character of typical large systems coincide well with the results of theoretical analyses. Copyright © 2008 John Wiley & Sons, Ltd.