The Thebes Limestone Formation of Lower Eocene age is one of the most extensive rock units in Egypt. It is of importance to the apogee of the ancient Egyptian civilization, particularly in Luxor (South-Central Egypt), where the rock formation hosts the Theban Necropolis, a group of funerary chambers and temples from the New Kingdom Egyptian era (3500–3000 BP). In this work, we investigated the petrophysical and rock mechanical properties (e.g., rock strength, critical crack stress thresholds) through laboratory tests on eleven rock blocks collected from one area within the Theban Necropolis known as the Valley of the Kings (KV). The blocks belong to Member I of the Thebes Limestone Formation, including six blocks of marly limestone, three blocks of micritic limestone, one block of argillaceous limestone from the Upper Esna Shale Formation, and one block of silicified limestone of unknown origin. Special attention was given to the orientation of bedding planes in the samples: tests were conducted in parallel (PA) and perpendicular (PE) configurations with respect to bedding planes. We found that the marly limestone had an average unconfined compressive strength (UCS) of 30 MPa and 39 MPa for the PA and PE tests, respectively. Similarly, the micritic limestone tests showed an average UCS of 24 MPa for the PA orientation and 58 MPa for the PE orientation. The critical crack thresholds were the first ever reported for Member I, as measured with strain gauge readings. The average crack initiation (CI) stress thresholds for the marly limestone (PA: 14 MPa) and the micritic limestone (PA: 11 MPa; PE: 24 MPa) fall within the typical ratio of CI to UCS (0.36–0.52). The micritic limestone had an average Young’s modulus (E) of 19.5 GPa and 10.3 GPa for PA and PE, respectively. The Poisson’s ratios were 0.2 for PA and 0.1 for PE on average. Both marly and micritic limestone can be characterised by a transverse isotropic strength behaviour with respect to bedding planes. The failure strength for intact anisotropic rocks depends on the orientation of the applied force, which must be considered when assessing the stability of tombs and cliffs in the KV and will be used to understand and improve the preservation of this UNESCO World Heritage site.