Under the predetermined nucleation condition, the influence of volume shrinkage on isothermal crystallization kinetics of polymer is simulated by use of Monte Carlo method. The validity of Avrami and Price equations is evaluated by using simulated results. The quantitative data are obtained that the volume shrinkage affects the parameters of crystallization kinetics. It is shown that as a result of volume shrinkage, the Avrami exponent n reduces and the value of the composite crystallization rate constant Z and the linear growth rate of entities G increases; compared with the Avrami equation, the Price equation hardly makes the progress to describe the behavior of polymer later stage crystallization.