The bonding performance between the anchor anchorage body and soil is an important index to evaluate the anchoring performance of anchor bolts. In this work, the vertical polyurethane grouting anchor bolt is taken as the research object, and the bonding performance between polyurethane anchorage body and silty soil was studied by 13 sets of field pull-out tests, and the distribution law of the axial force and the bonding stress of the polyurethane anchor bolts along the anchoring depth, as well as the influence of the diameter (D = 60 mm, 75 mm, 90 mm, 100 mm, 120 mm), density (ρ = 0.2 g/cm3, 0.3 g/cm3, 0.4 g/cm3, 0.5 g/cm3, 0.6 g/cm3) and length (L = 2.0 m, 2.5 m, 3.0 m, 4.0 m, 5.0 m) of the polyurethane anchorage body on the bonding strength between the polyurethane anchorage body and silty soil were analyzed in detail, and finally the load transfer equation of polyurethane anchorage body under vertical pull-out load was obtained by theoretical derivation. The results show that the error between the calculated results of the load transfer equation and the experimental results is less than 12%, which further indicates that the load transfer equation derived in this paper can reasonably describe the distribution of axial force and bonding stress along the anchorage depth of the polyurethane anchor bolts. The axial force of polyurethane anchor bolt is the largest at the top of the bolt body, and decreases along the anchoring depth, and the axial force at the bottom is far less than that at the top. Polyurethane anchor bolt has significant bonding stress concentration phenomenon, with the increase of load the peak bonding stress and bonding stress distribution area increases, and shifts to the bottom of the anchorage body. The borehole diameter, anchorage body density, and anchorage body length all have important effects on the bonding strength: the bonding strength increases with the increase of anchorage body density, and the increase is more obvious in the case of small density, and the increase of bonding strength becomes smaller after the density exceeds 0.4 g/cm3, the bonding strength decreases with the increase of anchorage body length and borehole diameter.