A new interpretation is proposed for the dependence of dynamic moduli on the strain amplitude in the course of shear vibrations at a fixed vibration frequency. The interpretation is based on a structural rheological model that includes kinetic equations for the formation and destruction of particles’ aggregates under the action of an oscillating shear flow. The rheological equations, which can be used for the approximation of rheological curves G'(γ0) and G''(γ0) in separate sections with different amplitudes of the shear strain, are obtained. The possibilities of the new rheological model are demonstrated through the example of two polymer systems with solid particle-based fillers.