The vertical near‐fault seismic ground‐motion component can cause significant structural deformation and damage, which can be evaluated from time history analysis using actual or synthetic ground‐motion records. In this study, we propose a new stochastic model for the vertical pulseless near‐fault ground motions that depends on earthquake magnitude, rupture distance, and site condition. The proposed model is developed based on the time–frequency characteristics of 606 selected actual vertical record components in strike‐slip earthquakes. The use and validation of the model are presented using simulated records obtained by two simulation techniques. For the validation, the statistics of time–frequency‐dependent power spectral acceleration estimated from the simulated records using the proposed stochastic model are compared with those from the actual records and the ground‐motion models available in the literature.