Prediction of the load-bearing capacity of an adhesive-bonded Joint is of practical importance for engineers. This paper introduces interface fracture mechanics approach to predict the load-bearing capacity of composite metal bonded joints. The adhesion strength of composite/steel bonding is evaluated in terms of the energy release rate of an interfacial crack and the fracture toughness of the interface. Virtual track closure technique (VCCT) is used to calculate energy release rates, and hi-material end-notched flexure (ENF) specimens are devised to measure the interfacial fracture toughness. Bi-material ENF specimens gave consistent mode II fracture toughness $(G_{IIc})$ values of the composite/steel interface regardless of the thickness of specimens. The critical energy release rates of double-lap joints showed a good agreement with the measured fracture toughness. Therefore. the energy-based interfacial fracture characterization can be a practical engineering tool for predicting the load-bearing capacity of bonded joints.