It is well known that fractures in elastic bodies initiate at locations of stress concentrations, which could arise due to geometrical discontinuities. While there are several works available in the literature about fracture mechanics studies for homogeneous bodies (both experimental and analytical), only a few studies analyzed the effects of geometrical discontinuities in bodies made of nonhomogeneous materials. The present study aims to fill this gap analyzing the effect of a circular eccentric hole in functionally graded hollow disks subject to centrifugal body forces. The material is assumed to be linearly elastic and isotropic, while its properties radially vary in a prescribed law. The effect of the non-homogeneity on two suitably defined stress concentration factors is numerically forecast by means of finite element method. Graphical charts are then provided to assess critical stresses and thoroughly discussed. Comments on the location of the eccentric hole such that stress concentrations attain their minimum are finally addressed.