Quantitative analysis of dynamic gadolinium‐DTPA (diethylenetriamine pentaacetic acid) enhanced magnetic resonance imaging (MRI) is emerging as a highly sensitive tool for detecting malignant breast tissue. Three‐dimensional rapid imaging techniques, such as keyhole MRI, yield high temporal sampling rates to accurately track contrast enhancement and washout in lesions over the course of multiple volume acquisitions. Patient motion during the dynamic acquisitions is a limiting factor that degrades the image quality, particularly of subsequent subtraction images used to identify and quantitatively evaluate regions suggestive of malignancy. Keyhole imaging is particularly sensitive to motion since datasets acquired over an extended period are combined in k‐space. In this study, motion is modeled as set of translations in each of the three orthogonal dimensions. The specific objective of the study is to develop and implement an algorithm to correct the consequent phase shifts in k‐space data prior to offline keyhole reconstruction three‐dimensional (3D) volume breast MR acquisitions.