The main purpose of this work is to discuss the ability of finite element analyses, together with an appropriate anisotropic fracture criterion, to predict the ultimate load and type of fracture in bones and more specifically in the proximal femur. We show here that the use of a three-dimensional anisotropic criterion provides better results than other well-known isotropic criteria. The criterion parameters and the anisotropic elastic properties were defined in terms of the bone tissue microstructure, quantified by the apparent density and the so-called "fabric tensor", whose spatial distributions were obtained by means of an anisotropic remodeling model able to capture the main features of the internal structure of long bones. In order to check the validity of the results obtained, they have been compared with those of an experimental work that analyzes different types of fractures induced in the proximal femur by a static overload.