The strengthening of steel structures can be effectively performed using carbon fiber-reinforced polymers (CFRP) plates. Specifically, the behavior of corroded and fatigue damaged steel bridges can be significantly improved using externally bonded (EB) or unbonded composite reinforcements. For bonded composites, the bond between the reinforcement and the steel substrate is the weak link of the system. Indeed, cohesive failure within the adhesive layer represents the main failure mode, which makes the selection of a proper adhesive fundamental to achieve an improvement of the system load carrying capacity and fatigue resistance. Within this context, the use of toughened adhesives represents a promising solution. However, research regarding these adhesives is still limited. In this paper, 18 single-lap direct shear tests are performed to evaluate the cohesive behavior of toughened and traditional adhesives. For some specimens, the full-range bond behavior, including the load response snap-back, was experimentally captured. The digital image correlation technique is adopted to evaluate the adhesives cohesive material law (CML). The effect of adhesive ductility, plate stiffness, and bonded length on the joint load response is investigated. Finally, experimental results are validated and discussed against the analytical predictions of a cohesive model based on a trapezoidal CML.