The finite element program LS-DYNA3D and the molecular dynamic method were applied to investigate the plastic zone formation, evolution process and the consequent dynamic failure behaviors under the dynamic tensile loading in a metal sheet with a preset flaw at macroscopic and microscopic levels, respectively. The calculated results show that the formation of the plastic zone stems from the stress wave-flaw and stress wave-stress wave interactions. The macroscopic and microscopic simulations represent the similar physical characteristics: the crack initiates at the front of the flaw boundary, then connects with the flaw and eventually leads to the global failure.