Steel jacketing and concrete jacketing are popular retrofitting techniques to strengthen the axial compressive behavior of reinforced concrete (RC) columns. However, these retrofitting methods lack efficiency in practical application due to intensive labor and time-consuming installation. In order to improve the retrofit efficiency of damaged RC columns, this study proposed a novel precast steel-reinforced grout jacket (PSRGJ) consisting of early-strength cementitious grout and a steel frame. Ten columns were tested to investigate the axial compressive behavior of predamaged RC columns retrofitted with PSRGJ. The tested parameters were the stirrup reinforcement ratio, the transverse reinforcement ratio of PSRGJ, and the predamage level. The results indicated that the columns’ peak load and ductility index I10 were significantly improved by PSRGJ retrofitting and increased with the increase of transverse reinforcement ratio of PSRGJ. Besides, the peak load and the initial stiffness of PSRGJ-retrofitted RC columns decreased with the predamage level, while the ductility index I10 increased. In addition to the confinement effect, PSRGJ carried 11%−17% of the peak load through the interfacial bonding effect. Based on the test results, the actual confinement pressure model and interfacial bonding strength model were proposed. Further, peak load models considering the size effect were developed for PSRGJ-retrofitted intact and predamaged RC columns. The predictions of the proposed models agreed well with the test results from this study and the literature.