In the spirit of multiscale modeling, we develop a theoretical framework for spin-lattice coupling that connects, on the one hand, to ab initio calculations of spin-lattice coupling parameters and, on the other hand, to the magnetoelastic continuum theory. The derived Hamiltonian describes a closed system of spin and lattice degrees of freedom and explicitly conserves the total momentum, angular momentum, and energy. Using a numerical implementation that corrects earlier Suzuki-Trotter decompositions we perform simulations on the basis of the resulting equations of motion to investigate the combined magnetic and mechanical motion of a ferromagnetic nanoparticle, thereby validating our developed method. In addition to the ferromagnetic resonance mode of the spin system, we find another low-frequency mechanical response and a rotation of the particle according to the Einstein–de Haas effect. The framework developed herein will enable the use of multiscale modeling for investigating and understanding a broad range of magnetomechanical phenomena from slow to ultrafast timescales.