This paper investigates the interior-one-flange web crippling strength of cold-formed steel channels at elevated temperatures. The stress-strain curves of G250 and G450 grade cold-formed steel (CFS) channels at ambient and elevated temperatures were taken from the literature and the temperatures were varied from 20 to 700 °C. A detailed parametric analysis comprising 3474 validated finite element models was undertaken to investigate the effects of web holes and bearing length on the web crippling behavior of these channels at elevated temperatures. From the parametric study results, it was found that the web crippling strength reduction factor is sensitive to the changes of the hole size, hole location, and the bearing length, with the parameters of hole size and hole location having the largest effect on the web crippling reduction factor. However, the web crippling strength reduction factor remains stable when the temperature is changed from 20 to 700 °C. Based on the parametric analysis results, the web crippling strength reduction factors for both ambient and elevated temperatures are proposed, which outperformed the equations available in the literature and in the design guidelines of American standard (AISI S100-16) and Australian/New Zealand standard (AS/NZS 4600:2018) for ambient temperatures. Then, a reliability analysis was conducted, the results of which showed that the proposed design equations could closely predict the reduced web crippling strength of CFS channel sections under interior-one-flange loading conditions at elevated temperatures.