If Fiber Reinforced Metal Laminates(FRMLs) were delaminated, the decrease of stiffness and fiber bridging effect would result in the sudden aggravation of fatigue characteristics. It was reported that the delamination of FRMLs resulted from the crack of metal layers and that it depended on the crack growth. While cracks were made in FRMLs containing a saw-cuts under fatigue loading, cracks could be produced or not in FRMLs with circular holes under the same condition. When the FRMLs with the circular holes produce not the crack but the delamination, it is not possible to analyze it by the conventional fracture parameters expressed as the function of the crack. And so, this research suggests a new analytical model of the delamination to make the comparison of the delamination behavior possible whenever the cracks occur or not. Therefore, a new analytical model called Pseudo Crack Model(PCM) was suggested to compare the delaminations whether cracks were made or not. The relationship between the crack energy consumption rate( $E_{crack}$) and the delamination energy consumption rate( $E_{del}$) was discussed and it was also known that the effect of $E_{del}$ was larger than that of $E_{crack}$.