Using the ellipsoidal model for the density configuration, we calculate the equilibrium sequence of the corotating binary stars of the polytropic equation of state in the first post-Newtonian approximation of general relativity. After we calibrate this model by comparing with previous numerical results, we perform the stability analysis by calculating the energy and the angular momentum of the system as a function of the orbital separation. We find that the orbital angular velocity at the energy and/or momentum minimum increases with the increase of the compactness of each star, and this fact holds irrespective of the polytropic index. These features agree with those in previous numerical works. We also show that due to the influence of the tidal field from the companion star, the central density of each star slightly decreases.