The FCRD NFA-1 is a high strength, irradiation tolerant nanostructured ferritic alloy (NFA) produced by ball milling argon atomized Fe-14Cr-3W-0.35Ti-0.25Y (wt.%) and FeO powders, followed by hot extrusion at 850ºC, and subsequent annealing and crossrolling at 1000ºC. The microstructure of the resulting ≈ 10 mm thick NFA-1 plate is dominated by ultrafine sub-micron pancake shaped grains, and a large population of microcracks lying on planes parallel to the plate faces. Pre-cracked fracture toughness tests in four different orientations (L-T, T-L, L-S and T-S) show stable crack growth by ductile tearing, with peak load KJc from ≈ 88 to 154 MPa√m at ambient temperature. Stable crack tearing persists down to ≈-175°C and is accompanied by extensive delamination due to the propagation of the microcracks. Depending on the specimen orientation, this unusual toughening mechanism is either due to reduction of crack tip stresses in thin ligaments formed by the delaminations (L-T and T-L), or 90° deflection of cracks initially running normal to the delaminations (L-S and T-S), thereby 2 suppressing cleavage in both cases. Understanding the fracture processes in NFA-1 is also important to its irradiation tolerance in nuclear service as well as its fabricability in making defect-free components such as thin-walled tubing.