The numerical modeling of structures is a widely preferable approach to investigate the structural behavior of RC beams since it delivers inexpensive predictions for confirming the required goals concurrently with reducing casting, testing time, and effort. Shear-strengthening of reinforced concrete (RC) beams using externally bonded (EB) fiber-reinforced polymers (FRPs) has attracted much attention due to the fact that the FRP strengthening technique has the ability to alter the distribution of stresses between the structural elements and increase the load-carrying capacity. A significant number of experimental studies have been carried out to test the monotonic behavior of FRP shear-strengthened RC beams. Conversely, limited numerical research has been performed to investigate such performance. The VecTor2 software is developed based on the modified compression field theory (MCFT) and is directed to examine the monotonic behavior of retrofitted specimens using fiber-reinforced polymer (FRP) composites. To the authors’ knowledge, the behavior of FRP shear-strengthened beams has not been explored in the literature using the MCFT modeling approach. The main objective of this study is to detect the software’s capability of predicting the experimental outcomes of FRP shear-strengthened RC beams. This research study is carried out in two stages. Initially, the numerical study involves the development of an accurate finite element model to simulate the control specimens. The quality of this model is assessed by comparing the numerical results with the experimental outcomes. In the second phase of the numerical study, the control beam model is modified to accommodate the presence of external FRP composites. The accuracy of this model is again measured by comparing its predictions with the experimental measurements. The goal of these phases is to ensure that the numerical model captures the actual behavior of the tested beams. Additionally, two distinctive modeling approaches are investigated to represent the behavior of FRP composites. The accuracy of the numerical models is verified through comparisons of numerical predictions to experimental results in terms of ultimate loading capacity, load–deflection relationships, and failure modes. It can be stated that the validated numerical model provides alternate means for evaluating the monotonic behavior of both strengthened and non-strengthened RC beams. The predicted results compare very well with the test results of the control specimens when discrete truss elements are employed for the FRP composites. Furthermore, the numerical model provides useful information on the crack patterns and failure modes.