Reliability of phylogenetic analyses strongly depends on models assumed for the substitution processes of nucleotides and amino acids. Here we propose a new codon-based model in which codon replacements with single and multiple base changes occur in the same order of time, and a new evaluation of the selective restraints on amino acid replacements is used. The codon substitution process is modeled as the time-reversible Markov process and the codon mutation rates are assumed to be proportional to the equilibrium codon frequencies. All codon replacements are assumed to be lethal or neutral, and the mean fraction of neutral replacements is approximated by the exponent of a linear combination of two terms, mean increment of contact energies between an amino acid and surrounding amino acids due to an amino acid exchange in a protein structure and volume difference between an amino acid and its replacement. This codon-based model is examined by maximizing its likelihoods to the amino acid substitution matrices, JTT tallied by Jones et al., mtREV estimated for mitochondria- and cpREV for chloroplast-encoded proteins. The maximum likelihoods indicate that the present evaluation of the selective restraints better fit the JTT than both Grantham's and Miyata's distances. The Akaike information criterion scores indicate the significance of multiple base changes. The estimated values of parameters confirm transition/transversion rate bias and codon usage bias, and reproduce characteristic features in the temporal changes of the log-odd matrix.