A modified analytical shear lag model is used for the evaluation of the interfacial shear and peeling stresses in a cracked bi-material structure composed of two elastic plates bonded together by an interface zero thickness material and subjected to monotonically increasing thermal loading. The ``peeling'' stress can be determined by the aid of the interfacial shear stress and is proportional to deflections of the thinner plate of the structure. The interface is assumed to exhibit brittle failure when the shear stress reaches the critical value. The analytical solution and the length of the debonding and intact zones as well as the interfacial shear and peeling stresses for given material properties and thermal loading are discussed and illustrated in figures.