The buckling is one of the major two nonlinear problems. One is the material non-linearity and other is the geometrical nonlinear. Material non-linearity has occurred when the buckling stress of material exceeded the yield stress of material. The material non-linearity must be taken into account when the buckling analysis of thick plate is performed. In this study, inelastic modulus that is used to calculate the buckling strength is taken to account for the material non-linearity. The results from experiments are used to formulate the semi-theoretical formula. The analysis results generated by the use of semi-theoretical formula are close to the experimental data.