Experimental tests have shown that glass exhibits very different strengths when tested under biaxial and uniaxial conditions. This paper presents a study on the effects of biaxial stresses on the notional ultimate strength of glass. The study involved applying the theory of elasticity and finite element analysis of the Griffith flaw in the micro scale. The strain intensity at the tip of the critical flaw is used as the main criterion for defining the limit state of fracture in glass. A simple and robust relationship between the maximum principal stress and the uniaxial stress to cause failure of the same glass specimen has been developed. The relationship has been used for evaluating the strength values of both new and old annealed glass panels. The characteristic strength values determined in accordance with the test results based on 5% of exceedance are compared with provisions in the ASTM standard.