The analysis of auxetic structural elements undergoing transverse shear deformation has so far been largely confined to the first‐order shear deformation theory (FSDT), which requires a shear correction factor; analysis using the third‐order shear deformation theory (TSDT), which does not require a shear correction factor, is currently lacking in regard to auxetic structural elements. This paper adopts the TSDT to evaluate the elastic stability of isotropic columns with special emphasis on auxetic ones for pinned–pinned columns with springs of equal rotational stiffness at both ends. Results on columns with pinned–pinned (zero stiffness) and fixed–fixed (infinite stiffness) end conditions with square and circular cross sections reveal that auxeticity (i) reduces the transverse shear deformation, (ii) allows the use of classical theories, and (iii) provides higher elastic stability.