The stretch-bend springback of dual phase steel DP590 was studied experimentally and numerically in this paper. The aim of this work is to investigate the effects of elastic modulus degradation on springback prediction. Two anisotropic yield function yld89 and yld2000 were utilized along with isotropic hardening law. The appropriate material parameters characterizing the elastic modulus decrease were identified by response surface modeling. The current work showed that the accuracy of springback simulation improved when considering elastic modulus decreased with plastic strain and yld2000 can predict springback more accurately considering blank orientation in stretch bending.