A hanger steak, also known as butcher's steak or hanging tenderloin, is a cut of beef steak prized for its flavor. This cut has a higher fat content and tenderness. Hanger steak is called the 'butchers secret' for a reason, many shoppers are unfamiliar with it.
In a good cut of hanger steak, there's just the right of marbling and great flavor. I'd say the flavor is similar to that of a skirt steak. Even when cooked to well-done, hanger steak stays tender and juicy -- just what a great steak should be. Plus, the price per pound is reasonable.