In recent years, Fiber Reinforced Polymers (FRP) have emerged as useful materials for structural strengthening and rehabilitation. The main aspire of this research is towards evaluating the efficiency of Carbon Fiber Reinforced Polymers (CFRP) in enhancing the shear strength of deep beams. The research work included construction and testing of eight (08) reinforced concrete deep beams. Two of the beams, designated as control beams, were without any shear reinforcement. Remaining six beams were divided into three groups, with each group having two identical beams. Beams in one of these groups were strengthened with conventional type of steel web reinforcement. Remaining two groups were strengthened externally by CFRP sheets with different orientations of CFRP. Magnitude of load causing shear cracks to initiate, and the failure load of each beam was recorded. Significant increase in overall load carrying capacities was observed with both CFRP sheets and web steel reinforcement. CFRP was found to be considerably effective in delaying the initial appearance of shear cracks, thereby improving the serviceability limit state of beams. Beams with CFRP orientation perpendicular to the shear cracks showed higher increment in shear strength. In conclusion, CFRP laminates could effectively be used to strengthen existing RC structures deficient in shear strength, and also to reduce/replace internal steel web reinforcement in new RC structures. Material cost comparison of CFRP reinforced beams with conventional web reinforcement is presented, and the general cost effectiveness of structural rehabilitation by means of CFRP is also discussed.