In this work, notched specimens with two notch geometries were tested in two loading modes (four-point bending (4PB) and three-point bending (3PB)) at various loading rates at a temperature of −110 • C for a C-Mn steel. An elastic-plastic finiteelement method (FEM) is used to determine the stress distributions ahead of notches. By accurately measuring the distances of the cleavage initiation sites from the notch roots, the local cleavage fracture stress σ f is measured. The results obtained and combining with previous studies by the authors show that the local cleavage fracture stress σ f is closely related to the cleavage fracture mechanism (critical events) in steels. The σ f values do not change with loading rate, notch geometry and loading mode, as long as the critical event of cleavage fracture does not change at various testing conditions. The σ f is mainly determined by the steel microstructure, and its scatter is mainly caused by the size distribution of the weakest constituent in steels (ferrite grain or pearlite colony with large sizes and large second phase particles) and the change of the critical events in cleavage process. The σ f can characterize the intrinsic toughness of steels and may be used in a "local approach" model for assessing integrity of flawed structures. The σ f values could be measured by both 4PB and 3PB tests.