As robots are becoming more accessible in our daily lives, the interest in physical human–robot interaction (HRI) is rapidly increasing. An electric bicycle (E-bike) is one of the best examples of HRI, because a rider simultaneously actuates the rear wheel of the E-bike in close proximity. Most commercially available E-bikes employ a control methodology known as a power assistant system (PAS). However, this type of system cannot offer fully efficient power assistance for E-bikes since it does not account for the biomechanics of riders. In order to address this issue, we propose a control algorithm to increase the efficiency and enhance the riding experience of E-bikes by implementing the control parameters acquired from analyses of human leg kinematics and muscular dynamics. To validate the proposed algorithm, we have evaluated and compared the performance of E-bikes in three different conditions: (1) without power assistance, (2) assistance with a PAS algorithm, and (3) assistance with the proposed algorithm. Our algorithm required 5.09% less human energy consumption than the PAS algorithm and 11.01% less energy consumption than a bicycle operated without power assistance. Our algorithm also increased velocity stability by 11.89% and acceleration stability by 27.28%, and decreased jerk by 12.36% in comparison to the PAS algorithm.