Understanding the factors that control the extent of tissue damage as a result of material failure in soft tissues may provide means to improve diagnosis and treatment of soft tissue injuries. The objective of this research was to develop and test a computational framework for the study of the failure of anisotropic soft tissues subjected to finite deformation. An anisotropic constitutive model incorporating strain-based failure criteria was implemented in an existing computational solid mechanics software based on the material point method (MPM), a quasi-meshless particle method for simulations in computational mechanics. The constitutive model and the strain-based failure formulations were tested using simulations of simple shear and tensile mechanical tests. The model was then applied to investigate a scenario of a penetrating injury: a low-speed projectile was released through a myocardial material slab. Sensitivity studies were performed to establish the necessary grid resolution and time-step size. Results of the simple shear and tensile test simulations demonstrated the correct implementation of the constitutive model and the influence of both fiber family and matrix failure on predictions of overall tissue failure. The slab penetration simulations produced physically realistic wound tracts, exhibiting diameter increase from entrance to exit. Simulations examining the effect of bullet initial velocity showed that the anisotropy influenced the shape and size of the exit wound more at lower velocities. Furthermore, the size and taper of the wound cavity was smaller for the higher bullet velocity. It was concluded that these effects were due to the amount of momentum transfer. The results demonstrate the feasibility of using MPM and the associated failure model for large-scale numerical simulations of soft tissue failure.