Planar anisotropy and cup‐drawing behavior were investigated for high‐strength steel sheets containing different volume fractions of martensite. Macrotexture analysis using XRD was conducted to capture the effect of crystallographic orientation on the planar anisotropy of high‐strength steel sheets. A phenomenological yield function, Yld96, which accounts for the anisotropy of yield stress and r‐values, was implemented into ABAQUS using the user subroutine UMAT. Cup drawing of high‐strength steel sheets was simulated using the FEM code. The profiles of earing and thickness strain were compared with the experimentally measured results.