A detailed analysis of experimental work on shock induced polarization in water performed by Eichelberger and Hauver in 1961 is presented based on an orientation polarization mechanism of water, which is analytically described here in great detail. First, the notion of co-existence of stress and inertial forces is introduced to explain a shock-induced alignment of water molecules in such a way that hydrogen atoms are always moving in front of oxygen atoms along with the shock wave front progressing across the material. Next, the structure of the shock wave front is considered and, specifically, the calculated width of the front is discussed. Furthermore, the polarization induced by shock is computed based on the stress and inertial contributions into the total energy and specific parameters of the shock wave in water. This allows us to define the polarization charge and to describe the formation of the double charged layer within the shock front or distributed over the entire sample depending on the charge relaxation time, which in turn is determined by the dynamics of water viscosity behind the front. The polarization characteristics of water, or electric field, potential, and bias current, calculated here from the polarization charge density, agree well with experimental data by Eichelberger and Hauver. Finally, it is concluded that the reorientation of water molecules is a dominating mechanism of shock-induced polarization. Specific potential applications of the methodology developed here are discussed.