Elastohydrodynamically lubricated point contact was investigated using a two-way partitioned fluid–solid interaction (FSI) model. ansys Mechanical finite element modeling software was used to compute elastic (and plastic) deformation of the solid bodies, while ansys fluent computational fluid dynamics software was used to model the fluid with the Navier–Stokes equations. The current model is not limited by Reynolds equation assumptions, allowing for the investigation of pressure, viscosity, and temperature variation across point contact elastohydrodynamic lubrication (EHL) films. Solid body material stress distribution and fluid behavior such as cavitation were also investigated. The details of model development are described. Validation of the model is presented across a range of loads and speeds for cases when the Reynolds equation is applicable. The results are in excellent agreement. Various slide-to-roll ratios were investigated considering a non-Newtonian fluid with thermal effects to characterize lubricant properties within the EHL film. Results demonstrate notable lubricant viscosity and temperature variations within the EHL film thickness both along and perpendicular to the rolling direction for cases with high slide-to-roll ratio. Cavitation was also considered, and cavitation bubble lengths were found to agree well with results found in open literature. Finally, the effects of material plasticity on solid body response were investigated. The FSI model developed in this research provides new insights on a classical EHL problem.