In this paper, the initial values of damage parameters in the Gurson–Tvergaard–Needleman (GTN) model are determined by a microscopic test combined with empirical formulas, and the final accurate values are determined by finite element reverse calibration. The original void volume fraction (f₀), the volume fraction of potential nucleated voids (f_N), the critical void volume fraction (f_c), the void volume fraction at the final failure (f_F) of material are assigned as 0.006, 0.001, 0.03, 0.06 according to the simulation results, respectively. The hemispherical punch stretching test of commercially pure titanium (TA1) sheet is simulated by a plastic constitutive formula derived from the GTN model. The stress and strain are obtained at the last loading step before crack. The forming limit diagram (FLD) and the forming limit stress diagram (FLSD) of the TA1 sheet under plastic forming conditions are plotted, which are in good agreement with the FLD obtained by the hemispherical punch stretching test and the FLSD obtained by the conversion between stress and strain during the sheet forming process. The results show that the GTN model determined by the finite element reverse calibration method can be used to predict the forming limit of the TA1 sheet metal.