Dynamic uniaxial and multiaxial tests were conducted to characterize the mechanical behavior of poly(methyl methacrylate) (PMMA). In this case, the multiaxial yield behavior of materials can be captured by the shear-compression samples (SCS). The experimental results were compared with different yield criteria, and which does not have a good agreement between theoretical prediction and experimental yield loci of PMMA undergoing combined shear-compression. Therefore, a phenomenological yield criterion is developed, and it notably involves hydrostatic stress sensitivity, lode angle, and one parameter. The parameter can be expressed by the asymmetry of yield strength between the tension and compression. The proposed criterion was verified by the utilization of differently combined shear-compression tests. The investigative results reveal that the proposed criterion can be successfully applied to describe the complex yield behavior of PMMA under dynamic loading conditions. The present study shows an efficient method to develop yield criterion of the reviewed materials.