This study examined the fracture and failed performance of foamed concrete materials by testing normalized notched beams under three-point bending via three methods: inverse analysis, digital image correlation (DIC), and finite element modeling (FEM). It also discussed both experimental and FEM characteristics. However, inverse analysis is only applicable for specimens with a notch height of 30 mm. Bilinear softening of the tested beams was estimated to identify the fracture energy (GF), critical crack length (ac), and elastic modulus (E). Additionally, the fracture toughness was calculated by adopting the double-K method (initiation fracture, unstable fracture, and cohesive fracture). Two-dimensional FEA modeling of the fracture was conducted using the traction-separation law (TSL), incorporating the extended finite element method (XFEM) and cohesive zone (CZM) techniques. A finite element sensitivity for the XFEM and CZM was performed, with the global mesh size of 2 and the damage stabilization cohesion of 1 × 10−5 showed good convergence and were used in other models. Further comparison of the DIC experiment findings with those from the FEM demonstrated good agreement in terms of crack propagation simulation.