The correlation between the stress concentration and the spontaneous magnetic signals of metal magnetic memory (MMM) was investigated via tensile tests. Sheet specimens of the Q235 steel were machined into standard bars with rectangular holes to obtain various stress concentration factors. The tangential component Hp(x) of MMM signals and its related magnetic characteristic parameters throughout the loading process were presented and analyzed. It is found that the tangential component Hp(x) is sensitive to the abnormal magnetic changes caused by the local stress concentration in the defect area. The minimum magnetic field is positively correlated to the magnitude of the load and the distance from the notch. The tangential magnetic stress concentration factor presents good numerical stability during the entire loading process, and can be used to evaluate the stress concentration factor. The results obtained will be a complement to the MMM technique.