Large deformation analyses of problems such as plastic forming, ductile fracture with finite element method need a full range of material's equivalent stress-strain curve or flow stress-strain curve. The equivalent stress-strain curve determined from the smooth round bar specimen should be corrected after diffuse necking, since tri-axial stress state occurs in the neck. The well-known Bridgman correction method is a candidate, however, it is not accurate as the strain increases. Furthermore, it is impossible to measure the equivalent stress-strain curve of each individual material zone in a weldment with cross weld tensile tests. To cope with these challenges, a correction function and an associated test procedure are proposed in this study. With the proposed procedure, the true stress-strain curve from any axisymmetric notched tensile specimen can be converted to the material's equivalent stress-strain curve accurately and no Bridgman correction is needed. The proposed procedure can be applied to both perfectly plastic and strain hardening materials. The equivalent stress-strain curve of each individual material zone in a weldment can also be measured with the proposed procedure.