This work deals with the development of a mechanics-based shear model for reinforced concrete (RC) elements strengthened in shear with fiber-reinforced polymer (FRP) and a design/assessment procedure capable of predicting the failure sequence of resisting elements: the yielding of existing transverse steel ties and the debonding of FRP sheets/strips, while checking the corresponding compressive stress in concrete. The research aims at the definition of an accurate capacity equation, consistent with the requirement of the pseudo-ductile shear behavior of structural elements, that is, transverse steel ties yield before FRP debonding and concrete crushing. For the purpose of validating the proposed model, an extended parametric study and a comparison against experimental results have been conducted: it is proven that the common accepted rule of assuming the shear capacity of RC members strengthened in shear with FRP as the sum of the maximum contribution of both FRP and stirrups can lead to an unsafe overestimation of the shear capacity. This issue has been pointed out by some authors, when comparing experimental shear capacity values with the theoretical ones, but without giving a convincing explanation of that. In this sense, the proposed model represents also a valid instrument to better understand the mechanical behavior of FRP-RC beams in shear and to calculate their actual shear capacity.