The addition of superelastic shape memory alloy fibers (SMAF) into engineering cementitious composites (ECC) can create a new type of SMAF-ECC composite material with good self-recovery and energy dissipation performance, which is very suitable for seismic structures. In this study, 10 groups of beam specimens with different volume contents of SMAF were fabricated, and the bending performance, deflection recovery and energy dissipation ability of these beams were studied through three-point bending cyclic loading tests. The failure mode, peak load, load–deflection curve, crack width and other indicators of the specimens were analyzed, and the relationship expression between fiber content and bending strength was established by fitting analysis. The results show that adding SMA fibers can significantly improve the peak load of ECC beams, with a maximum increase of 48.31%. The knotted SMA fibers can fully exert their superelasticity, providing the beam specimens with crack self-closing and deflection recovery ability. When the volume content of SMA fibers is 0–0.6%, the bending strength, energy dissipation ability and deflection recovery ability of the composite material beams increase with the increase in fiber content. When the volume content of SMA fibers is 0.6–1.0%, the above indicators decrease with the increase in fiber content. The suggested equations can well reflect the relationship between fiber content and beam bending strength. The research results of this paper provide theoretical support for the engineering application of SMAF-ECC composite materials.