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Ring opening metathesis polymerization (ROMP) of a series of low‐strain cyclic olefins and their hydroxyl derivatives using second generation Hoveyda–Grubbs catalyst has been investigated. Additionally, density functional theory (DFT) calculations were performed to evaluate the ring strain energies of the cyclic olefins and their hydroxyl derivatives, coupled with kinetic studies for the ROMP reactions. It was found that among different ring size monomers, Cy8 having a relatively moderate ring strain energy in comparison with the other cyclic olefins, exhibited the highest monomer conversion. The effect of temperature (0, 10, 15, and 25 °C) and monomer concentration (1 M; 2.5 M and 5 M for Cy5; and 1 M and 5 M for Cy7) for the cyclic olefins Cy5 and Cy7 were investigated. In general, the experimental results for the kinetic ROMP studies obtained using complex HG2 correlate really well with the DFT calculations …