Externally bonded (EB) and near-surface mounted (NSM) bonding are two widely adopted and researched strengthening methods for reinforced-concrete structures. EB composite substrates are easy to reach and repair using appropriate surface treatments, whereas NSM techniques can be easily applied to the soffit and concrete member sides. The EB bonded fiber-reinforced polymer (FRP) technique has a significant drawback: combustibility, which calls for external protective agents, and textile reinforced mortar (TRM), a class of EB composites that is non-combustible and provides a similar functionality to any EB FRP-strengthened substrate. This study employs a finite element analysis technique to investigate the failing failure of carbon textile reinforced mortar (CTRM)-strengthened reinforced concrete beams. The principal objective of this numerical study was to develop a finite element model and validate a set of experimental data in existing literature. A set of seven beams was modelled and calibrated to obtain concrete damage plasticity (CDP) parameters. The predicted results, which were in the form of load versus deflection, load versus rebar strain, tensile damage, and compressive damage patterns, were in good agreement with the experimental data. Moreover, a parametric study was conducted to verify the applicability of the numerical model and study various influencing factors such as the concrete strength, internal reinforcement, textile roving spacing, and externally-applied load span. The ultimate load and deflection of the predicted finite element results had a coefficient of variation (COV) of 6.02% and 5.7%, respectively. A strain-based numerical comparison with known methods was then conducted to investigate the debonding mechanism. The developed finite element model can be applied and tailored further to explore similar TRM-strengthened beams undergoing debonding, and the preventive measures can be sought to avoid premature debonding.