A new elasto-plastic and geometrically nonlinear finite element model of space beam considering restraint torsion and the coupling effect of deformations is presented in this paper. The warping restraint torsion and the coupling effect of deformation are considered in the displacement formulation of arbitrary point on the space beam. The geometrical relationship of arbitrary point is derived according to the definition of Green strain. The elasto-plastic and geometrically nonlinear finite element model of space beam is derived using Updated Lagrange description. The effect of axial force, shearing force, biaxial bending moment, moment of torsion and bimoment is involved in the geometrical stiffness matrix of element. The yielding developments both across the section and along the axis of the member are taken into consideration by selecting Gauss points. The full historical nonlinear analysis is achieved using the method of load increment and modified Newton-Raphson method. The validity of the new model derived in this paper is proved by numerical example. This new model can be used in the elasto-plastic and geometrically nonlinear analysis of space beam structures constructed by the members of arbitrary cross section.