This paper describes an analytical model for reinforced concrete panels subjected to reversed cyclic in-plane stresses. Stress-strain relationships of concrete under stress reversals in tension, compression and shear along cracked directions are idealized and calibrated using the existing experimental results. The proposed model gives a good representation of unloading - reloading responses observed in the past experiments. Simulation analyses were carried out for three panel specimens subjected to cyclic shear or combined shear and biaxial compression. Hysteresis loops obtained from the analyses correspond reasonably well with their experimental counterparts.