Objective To explore the failure criterion that can accurately simulate the tensile and compressive fracture of hollow cortical bone structure. Methods Based on the previous compression and bending experimental data, the predicted results using different failure criteria were compared to determine the simulation accuracy. Results Under the compressive load, the differences in the fracture load between the simulations using the equivalent and invariant strain failure criteria and the experiment were less than 5%, indicating that these two failure criteria were suitable for predicting the cortical bone failure; under the bending load, the differences in the fracture load between the simulations using the equivalent and invariant strain failure criteria and the experiment were less than 5%, indicating that these two failure criteria could accurately predict the failure process. Conclusions The prediction accuracy using different failure criteria mainly depends on whether the strain growth rate conformed to the actual bone deformation. Unbefitting strain growth rate will lead to premature or delayed structural fracture. The fracture simulation adopted in this study is suitable for most cortical bone structures, and can be used to determine the suitable failure criterion under different loads, so as to assist in obtaining the strength limit of cortical bone in various parts and provide data support for improving the simulation accuracy and grasping the condition of fracture occurrence in clinical practice.