Stretch flanging of steel sheets is an important formability issue for automobile industry. Finite element simulation study confirms that the edge of the hole deforms in a uniaxial tensile manner during the hole expansion process. To understand the effect of various tensile properties on hole expansion ratio, current experimental data and collected data from published work have been used. Yield stress, ultimate tensile stress, coefficient of normal anisotropy, total elongation, and post uniform elongation are closely related to hole expansion ratio. A non-linear relationship between hole expansion ratio and tensile properties (ultimate tensile stress, coefficient of normal anisotropy, and total elongation) is developed in the present investigation.