- A model is derived for isothermal three-dimensional deformation of polymers with finite strains. A polymer fluid is treated as a permanent network of chains bridged by junctions (entanglements). Macro-deformation of the medium induces two motions at the micro-level: (i) sliding of junctions with respect to their reference positions that reflects non-affine deformation of the network, and (ii) slippage of chains with respect to entanglements that is associated with unfolding of back-loops. Constitutive equations are developed by using the laws of thermodynamics. Three important features characterize the model: (i) the symmetry of relations between the elongation of strands and an appropriate configurational tensor, (ii) the strong nonlinearity of the governing equations, and (iii) the account for the volumetric deformation of the network induced by stretching of chains. The governing equations are applied to the numerical analysis of extensional and shear flows. It is demonstrated that the model adequately describes the time-dependent response of polymer melts observed in conventional rheological tests.