This paper presents a similarity solution for the directional casting of binary peritectic alloys in the presence of shrinkage-induced flow. The present model retains essential ingredients of alloy solidification, such as temperature-solute coupling, macrosegregation, solid-liquid property differences, and finite back diffusion in the primary phase. An algorithm for simultaneously determining the peritectic and liquidus positions is newly developed, which proves to be more efficient and stable than the existing scheme. Sample calculations are performed for both hypo- and hyper-peritectic compositions. The results show that the present analysis is capable of properly resolving the solidification characteristics of peritectic alloys so that it can be used for validating numerical models as a test solution.