The shear mechanical properties of F-type socket joints in rectangular pipe jacking tunnels are currently unknown. To investigate the shear mechanical response and deformation failure of the F-type socket joint in rectangular pipe jacking tunnels under different foundation coefficients, a laboratory joint test and numerical simulation method were used, considering the structural features of the joint. The results showed that the deformation process of a joint subjected to shear consists of four stages: gap closure, elastic growth, shear strengthening, and yield failure. The ultimate shear capacity of the joint increases by 25% to 34% for every 3 mm increase in the steel ring thickness. The chamfer yield damage area comprises approximately 15% of the steel ring. The joint concrete crack first appears at the top of the socket joint, and the concrete damage area accounts for about 40% of the whole pipe section. The failure characteristics of the joint are primarily manifested as drum and warp of the steel ring or cracking of the weld, and the concrete at the joint is crushed. In practical engineering, the weld should not be located at the chamfer. The steel ring at the chamfer needs to be locally strengthened, and the chamfer and the reinforcement at the top and bottom need to be increased to improve the bearing capacity of the concrete.