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The yield locus of a cold-rolled transformation-induced plasticity (TRIP780) steel sheet was investigated using a biaxial tensile test on a cruciform specimen. The effect of the key dimensions of the cruciform specimen on the calculation error and stress inhomogeneity was analyzed in detail using an orthogonal test combined with a finite element analysis. Scanning electron metallography (SEM) observations of the TRIP780 steel were performed. The yield curve of the TRIP780 steel was also calculated using the Von Mises, Hill '48, Hill '93, Barlat '89, Gotoh and Hosford yield criteria. The experimental results indicate that none of the selected yield criteria completely agree with the experimental curve. The Hill '48 and Hosford yield criteria have the largest error while the Hill '93 and Gotoh yield criteria have the smallest error.