In this study, the circular hole expansion process of high-strength steel sheet is numerically simulated using FE analysis with Hill48 quadratic, Gotoh’s fourth order, Yld2000-2d and Yoshida’s sixth order polynomial yield function. The effects of anisotropic yield functions on local reduction of thickness are evaluated. The thickness distribution around the circular hole edge at just before necking depends on the initial hole diameter. When the initial hole diameter is relative large, the simulation results give almost same thickness distribution among different yield functions. While the initial hole is relative small, individual characteristics of yield function becomes clear and the sixth order yield function gives the best prediction.