The stress concentration factor in a plate with a hole is very important for joints. There are many different types of joints and forms. Plates are usually connected with bolted, riveted and pin joints. Connection parts need to consist of hole/holes to make a joint using these machine elements. Machine parts are exposed to different stresses. In this study, the stress concentration factor in a plate with a circular hole under axial tension stresses was invegistated. The emprical (Peterson's) stress concentration factor (Kt) was compared with the results of analytical model, regression analysis (REGA), finite element analysis (FEA), artificial neural network (ANN) model. The stress concentration factor (Kt) was modeled using 5 different methods and the accuracy of Peterson's model was tested. The best results were obtained using ANN model. The emprical results and ANN predictions were compared by using statistical error analyzing the absolute fraction of variance (R-2 = 0.999999788), root mean square error (RMSE = 0.000934125) and mean error percentage (MEP = 0.033902049) with the test data. ANN model can be used instead of Peterson's model. Kt was determined by the ANN with an acceptable accuracy.