Carbon nanotubes (CNTs) reinforced cementitious composite (CNRC) with excellent electrical and self-sensing properties, which enables it to serve as an intrinsic sensor for structural health monitoring (SHM). However, the requirements of modern industry for accurate calculation and performance design of engineering materials are not met by traditional experimental studies alone. The finite element method (FEM) has the advantages of simplicity of operation, accuracy, and cost-effectiveness, and it has been widely used in the property verification and prediction of various composite materials. In this article, the constitutive model, FEM modeling method, and simulation process of CNRC along with existing model types, innate relations, and model parameters are reviewed, and the corresponding mechanical, electrical, and electromechanical coupling properties of CNRC under different parameters are systematically analyzed by FEM method. By combining different uncertainty parameters and model types, the advantages and disadvantages of FEM for mechanical, electromechanical coupling, and SHM applications of CNRC modeling are explored. The results are in good agreement with those in the existing CNRC experiment, which effectively proves the reliability of the FEM method in CNRC research. This work is important to develop a sound theoretical model verification and performance prediction for early applications in SHM of CNRC.