In random-chopped fiber-reinforced polymer (FRP) composites used as a retrofit material, a high volume fraction of voids is inevitable due to the manufacturing characteristics. In this paper, the mechanical characteristics and strengthening effectiveness of random-chopped FRP composites containing air porosity are investigated through experiments and numerical analysis. Coupon-shaped specimens with various material compositions were manufactured to examine the uniaxial tensile performance, and the air voids in the composites were measured by a microscope camera. In order to predict the overall performance of the composites, a micromechanical formulation that accounts for porosity was newly developed. The derived model was incorporated into a finite element (FE) code, and the model parameters were estimated by comparing uniaxial tensile test results for various systems of random-chopped FRP composites. In addition, concrete beams strengthened with the composites were produced to evaluate their load-carrying capacity. The FE predictions of the composite structures were then compared with experimental data to verify the predictive capability of the proposed numerical framework.