With an extension in service years, bridges inevitably suffer from performance deterioration. Columns are the main components of bridge structures, which support the superstructure. The damage of pier columns is often more harmful to bridges than that of other components. To accurately evaluate the time-varying characteristics of corroded columns, this paper proposes a new model for the bearing capacity evaluation of deteriorated reinforced concrete (RC) eccentric compression columns based on the Hermite interpolation and Fourier function. Firstly, the axial compression point, the pure bending point and the balanced failure point were selected as the basic points, and the deteriorated strength of these basic points was calculated by considering factors such as concrete cracking, reduction of reinforcement area, buckling of the steel bar, bond slip and strength reduction of confined concrete. After that, the interpolation points were generated by a piecewise cubic Hermite interpolating polynomial, and the explicit expression of the interpolation points fitting function was realized by the trigonometric Fourier series model. Finally, comparison studies based on measured data from forty-five corroded RC eccentric compression columns were conducted to investigate the accuracy and efficiency of the proposed method. The results show that: (1) the prediction results for bearing capacity of corroded RC columns are in good agreement with the measured data, with the average ratio of predicted results to test results at 1.06 and the standard deviation at 0.14; (2) the proposed model unifies the three stress states of axial compression, eccentric compression and pure bending, and is consistent with the continuum mechanics characteristics; (3) the decrements of axial load carrying capacity for 10% and 50% of the corrosion rate are 31.4% and 45.2%, while in flexure they are 25.4% and 77.4%, respectively; and (4) the test data of small-scale specimens may overestimate the negative effect of corrosion on the bearing capacity of actual structures. The findings in this paper could lay a solid starting point for structural life prediction technologies based on nondestructive testing.