Commercial dual-phase (DP) steel in sheet form and comprised of ferrite, martensite, and bainite was subjected to uniaxial tension up to fracture. The damage characteristics were studied through extensive quantitative metallography and scanning electron microscope (SEM) observations of polished sections and fracture surfaces of failed specimens. The observed void nucleation mechanisms include nucleation at the martensite/ferrite interface or triple junction (most predominant), nucleation due to the cracking of martensite particles, and nucleation at the inclusions. The void characteristics in terms of area fraction, void density, void size ranges, and void orientations were analyzed as a function of thickness strain from various regions of the different uniaxial tensile test specimens taken to fracture. The damage analysis suggests that the void nucleation occurs during the entire deformation process with an almost constant rate and this rate reduces before fracture. A nucleation strain of 0.15 has been estimated for this material.