Edge fracture prediction in high strength cold formed components still being a challenge for automotive part manufacturers. Even though several experimental methodologies have been proposed in the last years to assess edge formability, the material properties governing edge cracking sensitivity of high strength sheet materials are not clearly defined. This work investigates the correlation between the fracture toughness of various 1000 MPa Dual Phase and Complex Phase steel grades and their edge fracture resistance, evaluated by means of hole expansion tests according to ISO 16630. The good linear correlation observed between these parameters shows that fracture toughness is a reliable indicator of edge cracking resistance in advanced high strength steel sheets. However, it is well known that edge formability does not only depends on the material properties but also on the edge quality. In order to evaluate the effect of the edge condition on edge formability, additional hole tension tests are performed in some of the investigated steel grades with different punch to die clearances. It is shown that steels with greater fracture toughness present higher strain at fracture and lower cutting clearance sensitivity. According to these results, the fracture toughness is proposed as a relevant material property to understand the edge formability of high strength metal sheets.