The effect of stress triaxiality and Lode angle parameters on crack initiation and propagation is investigated using the phase field coupled elasto-plasticity formulation. To accomplish this, a multi-invariants, i.e., first invariant of stress tensor and second and third invariants of deviatoric stress tensor, dependent finite deformation hyperelasto-plasticity is coupled with phase field theory of ductile fracture. The novel ideas include a proposition of a phase field coupled multi-invariants dependent yield function by including the Hosford equivalent stress in the Drucker–Prager yield function in order to accurately predict the ductile response of the material prior to initiation of the failure and the postulation of the threshold energy in the phase field evolution equation defining a measure of the ductility of materials. The measure of ductility is reported in the form of damage initiation surface in terms of threshold plastic energy as a function of stress triaxiality and normalized Lode angle parameters using the Mohr–Coulomb fracture initiation criterion. The model parameters are calibrated based on the available experimental results in the literature considering the stress triaxiality and Lode angle parameters dependent responses of different specimens. The crack initiation and propagation paths predicted by the proposed model under the different states of stress triaxiality and Lode angle parameters, such as axisymmetric tension, plane strain condition, and axisymmetric compression, match with those predicted experimentally in the literature.