This study develops a finite element analysis model to predict the ultimate strength of the base metal block shear fracture based on previous experimental results and compares the experimental results with the analysis results to verify the effectiveness of the analysis model. This study also analyzed additional variables of the welding direction and weld length on the applied load to investigate the structural behaviors and fracture conditions. In addition, predicted strength according to the analysis results were compared with those by the current design equations, and the equations proposed by previous researchers. As a result, the design formula by the current design equations, such as Korea Building Code (KBC)/American Institute of Steel Construction (AISC) and European Code (EC3), and the equations proposed by Oosterhof and Driver underestimated the base metal block shear strength of ferritic stainless steel by up to 42%. Equations suggested by Topkaya and Lee et al. for carbon steel and austenitic stainless steel welded connections provided more accurate strength predictions, while they did not reflect the difference of material properties. Therefore, this study proposed a modified strength equation for ferritic stainless steel welded connection with base metal block shear fracture considering the stress triaxiality effect of the welded connection and the material properties of ferritic stainless steel.