The purpose of this work is to analyze the stress-raisers that affect the tensile strength and fatigue resistance of GFRP parts using the point and line methods of the theory of critical distances (TCD) to obtain a quantitative measure of the defect size that can be tolerated by the composite before it fails. In the course of the work, a method combining TCD and the Weibull function was developed. In the course of the work, GFRP structural fiberglass for electrical purposes was tested under uniaxial quasi-static and cyclic loading with digital image correlation (DIC) and acoustic emission (AE), as well as a numerical simulation of deformation. The studied specimens were plain (without a stress-raiser) and notched (V-shaped) with different notch root radii and depths. The results were used to determine the material critical distances. In this case, two approaches to TCD were used: line (LM) and point (PM) methods. To analyze the experimental results, finite element modeling was applied using the ANSYS software package. As a result, the linearized maximum principal stresses were obtained on the central line passing through the top of the stress raiser. Thus, the values of the critical distances of the material were determined by PM and LM. Based on the data obtained, the sizes of permissible defects in the studied fiberglass were established that do not affect the tensile and fatigue strength of the material. The paper illustrates the cumulative energy, peak amplitudes, and distributions of the frequency of the spectral maximum of acoustic emission signals obtained after the destruction of specimens by fatigue test. Evolutions of deformation fields on the specimen surface were recorded using a Vic-3D contactless optical video system and the DIC.