The degradation of SiC‐based ceramic matrix composites (CMCs) in conditions typical of gas turbine engine operation proceeds via the stress rupture of fiber bundles. The degradation is accelerated when oxygen and water invade the composite through matrix microcracks and react with fiber coatings and the fibers themselves. We review micromechanical models of the main rate‐determining phenomena involved, including the diffusion of gases and reaction products through matrix microcracks, oxidation of SiC (in both matrix and fibers) leading to the loss of stiffness and strength in exposed fibers, the formation of oxide scale on SiC fiber and along matrix crack surfaces that cause the partial closure of microcracks, and the concomitant and synergistic loss of BN fiber coatings. The micromechanical models could be formulated as time‐dependent coupled differential equations in time, which must be solved dynamically, e.g., as an iterated user‐defined material element, within a finite element simulation. A paradigm is thus established for incorporating the time‐dependent evolution of local material properties according to the local environmental and stress conditions that exist within a material, in a simulation of the damage evolution of a composite component. We exemplify the calibration of typical micromechanical degradation models using thermodynamic data for the oxidation and/or volatilization of BN and SiC by oxygen and water, mechanical test data for the rate of stress rupture of SiC fibers, and kinetic data for the processes involved in gas permeation through microcracks. We discuss approaches for validating computational simulations that include the micromechanical models of environmental degradation. A special challenge is achieving validated predictions of trends with temperature, which are expected to vary in a complex manner during use.