The deep drawing process, a pivotal technique in sheet metal forming, frequently encounters challenges such as anisotropy-induced defects. This study comprehensively investigates the influence of various yield criteria on the anisotropic behavior and fracture prediction in SECC steel cylindrical cups. It integrates Hill’48R, Hill’48S, and von Mises yield criteria in conjunction with Swift’s hardening law to evaluate material behavior under complex stress states. Experimental and numerical simulations assess the anisotropy effects across multiple orientations (0°, 45°, and 90°), revealing intricate relationships between stress criteria and material response. The findings indicate significant discrepancies between isotropic and anisotropic models in predicting fracture heights, emphasizing the importance of selecting appropriate yield criteria. Notably, the von Mises criterion results in lower fracture heights, suggesting higher susceptibility to fractures, while the Hill’48R model aligns closely with experimental data, validated through variations in punch corner radius and blank holder force parameters, with a maximum deviation of 3.23%. Hill’48S displays moderate plastic deformation characteristics.