The accuracy and efficiency of the elements proposed by finite element method (FEM) considerably depend on theinterpolating functions namely shape functions used to formulate the displacement field within the element. In thepresent study, novel functions, namely basic displacements functions (BDFs), are introduced and exploited forstructural analysis of nanobeams using finite element method based on Eringen’ s nonlocal elasticity and EULER-Bernoulli beam theory. BDFs are obtained through solving the governing differential equation of motion of nanobeamsusing the power series method. Unlike the conventional methods which are almost categorized as displacement-basedmethods, the flexibility basis of the method ensures true satisfaction of equilibrium equations at any interior point ofthe element. Accordingly, shape functions and structural matrices are achieved in terms of BDFs by application ofmerely mechanical principles. In order to evaluate the competency and accuracy of the proposed method with differentboundary conditions, several numerical examples with various boundary conditions are scrutinized. Carrying outseveral numerical examples, the results in stability analysis, free longitudinal vibration and free transverse vibrationshow a complete accordance with those in literature.