The acoustic emission (AE)monitoring technique is widely used in mechanical and materials research for detection of plastic deformation, fracture initiation and crack growth. However, the quantitative dependences of the AE signal parameters on material fracture parameters are not completely understood. This paper presents recent research results on AE monitoring of the fracture behavior of X80 line pipe steel, a critically important material for the oil and gas transportation industry.Fracture of this steel was studied using tensile testing of small scale specimens coupled with AE monitoring and high speed video camera. The dependence of fracture behavior and AE parameters on loading conditions (strain rate and presence or absence of a notch) was investigated. The AE parameters were analyzed using the “Average Hit” features and “Wave Form and Power Spectrum” methodologies. The fracture surface was characterized using scanning electron microscopy and a dependence of the AE parameters on the average void size has been obtained.