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A finite element method for the analysis of combined radiative and conductive heat transport in a finite axisymmetric configuration is presented. The appropriate integro‐differential governing equations for a grey and non‐scattering medium with grey and diffuse walls are developed and solved for several model problems. We consider axisymmetric, cylindrical geometries with top and bottom boundaries of arbitrary convex shape. The method is accurate for media of any optical thickness and is capable of handling a wide array of axisymmetric geometries and boundary conditions. Several techniques are presented to reduce computational overhead, such as employing a Swartz‐Wendroff approximation and cut‐off criteria for evaluating radiation integrals. The method is successfully tested against several cases from the literature and is applied to some additional example problems to demonstrate its versatility. Solution of a free‐boundary, combined‐mode heat transfer problem representing the solidification of a semitransparent material, the Bridgman growth of an yttrium aluminium garnet (YAG) crystal, demonstrates the utility of this method for analysis of a complex materials processing system. The method is suitable for application to other research areas, such as the study of glass processing and the design of combustion furnace systems.