The external bonding (EB) of fiber-reinforced polymer (FRP) is a usual flexural reinforcement method. When using the technique, premature debonding failure still remains a factor of concern. The effect of incorporating multi-wall carbon nanotubes (MWCNTs) in epoxy resin on the flexural behavior of reinforced concrete (RC) beams strengthened with basalt fiber-reinforced polymer (BFRP) sheets was investigated through four-point bending beam tests. Experimental results indicated that the flexural behavior was significantly improved by the MWCNT-modified epoxy. The BFRP sheets bonded by the MWCNT-modified epoxy more effectively mitigated the debonding failure of BFRP sheets and constrained crack development as well as enhanced the ductility and flexural stiffness of strengthened beams. When the beam was reinforced with two-layer BFRP sheets, the yielding load, ultimate load, ultimate deflection, post-yielded flexural stiffness, energy absorption capacity and deflection ductility of beams strengthened using MWCNT-modified epoxy increased by 7.4%, 8.3%, 18.2%, 22.6%, 29.1% and 14.3%, respectively, in comparison to the beam strengthened using pure epoxy. It could be seen in scanning electron microscopy (SEM) images that the MWCNTs could penetrate into concrete and their pull-out and crack bridging consumed more energy, which remarkably enhanced the flexural behavior of the strengthened beams. Finally, an analytical model was proposed for calculating characteristic loads and characteristic deflections of RC beams strengthened with FRP sheets, which indicated a reasonably good correlation with the experimental results.