In this paper, the ductile fracture of bainitic Functionally Graded Steel (FGS) has been studied. Fracture tests was performed on U-notched specimens made of bainitic FGS under mode I. The averaged Strain Energy Density (SED) criterion combined with Equivalent Material Concept (EMC) was employed to predict the ductile fracture of bainitic FGS. For this purpose, first based on EMC, the mechanical properties of a virtual brittle FGS was obtained. Then the averaged value of SED over a well-defined control volume was calculated by finite element analysis for U-notched virtual brittle FGS. After that, the fracture loads was obtained based on the averaged SED criterion. The agreement between experimental fracture loads and theoretical predictions was good.