The present study investigated the size effect on the formability of ultra-thin metallic bipolar plate for proton exchange membrane (PEM) fuel cell by crystal plasticity finite element method (CPFEM) in conjunction with the Marciniak-Kuczynski (MK) model. Mechanical behavior and crystallographic texture of a 0.08 mm-thick ferritic stainless steel (FSS) sheet were characterized by uniaxial tensile test and electron backscatter diffraction (EBSD) measurement. Nakazima formability test was carried out to measure the forming limit diagram (FLD) of ultra-thin FSS sheet. A hybrid cellular automata–Monte Carlo (CA–MC) model was developed to generate a ‘realistic’ representative volume element (RVE) that accurately reconstructed the measured texture and grain boundary misorientation distribution (GBMD). The predicted FLD by the CPFEM–MK model with the realistic RVE shows a good agreement with the experimental results. In order to explore the size effect on the formability, the forming limit analyses were performed using RVEs with various thickness-to-grain size ratios (t/d = 2∼10). The results reveal a significant degradation of the formability of the ultra-thin FSS sheet as t/d decreases. With decreasing number of grains through the thickness, the stress and strain heterogeneities in the surface grains are noticeably increased due to the less constraint by the subsurface grains, which plays an important role in the size effect. Furthermore, it is found that the surface strain hot spots in the material with low t/d can act as the geometrical imperfection to accelerate the failure, together with the increased stress triaxiality in the surface grains as the results of the localized strains and premature necking during the deformation. This attributes the decrease of forming limit strains to the early plastic flow instability in the ultra-thin sheet material with low thickness-to-grain size ratio.