High Q-factor Fano resonances were proposed and realized using toroidal dipoles in planar metamaterials composed of asymmetric split ring resonators at 9.1 GHz. Owing to the rapidly increased toroidal dipole, the presented subwavelength structure exhibits a remarkable characteristic, which is demonstrated using simulation and experiment. The toroidal excitation of the Fano resonances were verified using the conduction current, vortex H-field distribution, and scattered power in the far field. The relation between the Fano resonances and the scattered power of multipoles of the normal incident wave at different polarization angles was analyzed. The proposed toroidal metamaterial has application potentials in the wavelength bands of microwave, terahertz, and optical band, including ultrasensitive sensors and optical switches.