The cohesive zone model (CZM), which is capable of simulating the behavior of adhesively bonded joints subjected to static and fatigue loading, is widely accepted. In this study, fatigue peeling/shear of RC with externally bonded (EB) carbon fiber–reinforced polymer (CFRP) laminates under the mixed-mode implementation of the CZM is proposed. The procedure has been implemented in commercial software by programming the appropriate software-embedded subroutines. The main advantage of the proposed CZM is the use of coupled mixed-mode damage (shear-peeling), accounting for cumulative damage resulting from fatigue loading. Two-dimensional numerical simulations of the innovative double-lap-shear bonding test were performed by the proposed CZM. The excellent agreement between the simulated results and the experimental results are verified, and the good performance of the method as a predictive tool is demonstrated. Moreover, the peeling/shear propagation during loading can be effectively predicted.