Ductile fracture is the macroscopic result of a micromechanical process consisting in void nucleation and growth to coalescence. While growing in size, voids also evolve in shape because of the non-uniform deformation field in the surrounding material; this shape evolution is either disregarded or approximately accounted for by constitutive laws for porous-plastic solids. To assess the effect of void distortion on the overall properties of a porous-plastic material prior to any coalescence-dominated event, we here present a micromechanical study in which the void-containing material is treated as a two-phase (matrix and inclusion) composite. A cylindrical representative volume element (RVE), featuring elliptic cross-section and containing a coaxial and confocal elliptic cylindrical cavity, is considered. In case of a matrix obeying J2
flow theory of plasticity, the overall yield domain and the evolution laws for the volume fraction and aspect ratio of the void are obtained. Under assigned strain histories, these theoretical findings are then compared to finite element unit-cell simulations, in order to assess the capability of the proposed results to track microstructure evolution. The improvements with respect to the customarily adopted Gurson’s model are also discussed.