With the increasing implementation of sustainable development strategies, recycled concrete (RC) has garnered attention in research circles due to its substantial environmental and economic advantages. The presence and properties of various interface transition zones (ITZs) in RC play a vital role in its mechanical properties. This research uses a combination of multiphase inclusion theory and finite element numerical simulation to investigate and compare the impact of ITZs on concrete’s mechanical properties. The multiphase inclusion theory offers a theoretical framework for understanding ITZ behavior in concrete, categorizing it into new mortar, old mortar, new ITZ, old ITZ, and natural aggregate based on meso-structure. With simplified RC at the mesoscale, the study accurately predicts the mechanical properties of RC by adjusting the elastic modulus, Poisson’s ratio, and thickness of new and old ITZ models. Through finite element simulation and theoretical validation, the study achieves a minimal error of 6.24% in predicting the elastic modulus and 1.75% in predicting Poisson’s ratio. These results highlight the effectiveness of multiphase inclusion theory in capturing the meso-structure characteristics of RC and forecasting its macroscopic mechanical behavior while comprehensively considering the complexity of ITZs.