Externally bonded (EB) carbon fiber-reinforced polymers (CFRPs) have been progressively considered for application in concrete structures. However, the corrosion of reinforcing steel bars (rebars) in reinforced concrete (RC), which is more common in coastal environments than in inland environments, can degrade structural performance. The bonding performance of FRP-to-concrete joints can be further deteriorated by the degradation of the interfacial bonding behavior between the rebar (or rebars) and concrete cross-sectional area reduction at the steel bar plane induced by rust expansion. In this study, the effect of rebar corrosion on the FRP bonding performance of RC components was experimentally investigated for the first time. Single shear tests assisted by a 3D optical displacement measurement system were used to obtain the full-field distribution of specimen displacements. The test results show that, although the corrosion level and diameter of the steel bar slightly affected the bonding strength of FRP-to-concrete, the corrosion crack width increased as the steel bar corrosion level increased, which affected the failure mode. Hence, as the corrosion level of the steel bars increased, the likelihood of concrete cover separation increased. Finally, a modified strength design model accounting for the rebar corrosion level was proposed in this paper.