In the present paper, the failure mechanics of concrete under true triaxial dynamic loading is investigated. A four-phase concrete meso-model is developed. The meso-model consists of aggregate, mortar, interfacial transition zone (ITZ) and macropores. A finite element (FE) model of a split Hopkinson pressure bar is also created to apply true triaxial dynamic loading. The development of cracks in concrete is presented for the uniaxial, biaxial and triaxial loading cases. The presence of local discontinuity is modelled, and its effect on the failure of concrete is extensively investigated and discussed. In the last, the effect of aggregate distribution is also analysed. It is found that the internal structure of concrete changes the stress distribution from true triaxial to compression or extension triaxial, which is the prime cause of internal cracking.