The main objective of this study is to accurately predict the thinning behavior of AA6016-O aluminum alloy in the hole expansion test. In order to perform this aim, three yield functions, namely isotropic von Mises, quadratic Hill48 and non-quadratic Yld91, are considered and their prediction capabilities are evaluated in this study. Firstly, finite element (FE) model of hole expansion test is created by implicit FE software Marc, then FE simulations are performed with each yield criterion. In order to assess prediction capabilities of these yield criteria, thickness strain distributions along the three directions of the sheet (rolling, diagonal and transversal) and punch force–displacement curves are investigated. The results predicted from FE analyses are compared with experimental results. From the comparisons, it is observed that Yld91 yield criterion could successfully predict the thickness strain distributions along the rolling and transverse directions, whereas the other two criteria could only predict the thickness strain distributions along the diagonal direction. On the other hand, it is determined that punch force–displacement curves predicted from three models are identical and these predictions are overestimated compared to experimental data.