<p>In this study, the finite element (FE) method in ABAQUS/Explicit was applied to predict the failure modes and dynamic shear and moment capacity of steel beams with large web openings (SBLWOs). A validated FE model was then used for a parametric analysis to examine the effects of impactor shape, opening shape, yield stress, and opening eccentricity, which are key factors influencing the behavior of SBLWOs under load. The parametric study has emphasized that the elongated openings slightly aid in reducing the maximum displacement compared with rectangular openings by a ratio of 4–6%, corresponding to a considerable enhancement against local deformation. Furthermore, it was found that a smaller impact area of the impactor produced a lower peak impact force and more local deformation. Along with lowering displacement by 32% and improved failure modes were obtained by increasing the yield stress of SBLWOs. In addition, the dominant failure modes were found to be a local failure and web-post buckling failure. Finally, dynamic increase factors (DIFs) were proposed by comparing the obtained impact results with static outcomes from earlier studies. It was concluded that the design of steel beams against impact loading remains safe if the preliminary DIFs are less than 1.95.</p>