The notched strength of the infinite-width or finite-width isotropic plate is a classical and an extensively studied topic in the literature. Both the analytical solutions and the experimental investigations are widely and successfully achieved. The fundamental study of infinite-width laminated composite with a hole has already completed. However, the exact analytical solution for the finite-width laminated composite is not available. Based on the solution of infinite-width isotropic plate containing a hole, finite-width isotropic stress concentration factor (SCF), and finite-width orthotropic SCF, the approximate solutions of axial stress distribution (stress concentrations) along the net cross section for finite-width isotropic plate and finite-width laminated composite, respectively, are obtained successfully. Results of the stress concentrations obtained from analytical approximation, finite element analysis, and experimental investigation are in good agreement for isotropic plate with various hole diameter-to-plate width (d/w) ratios and laminated composites with various d/w ratios, lay-ups, and material systems.