This study investigates the interface bond strength and anchorage performance of steel bars within prefabricated concrete. Twenty-two specimens were designed and manufactured to study the interface bond behavior of deformed and plain steel bars under a larger cover thickness. Diameter of steel bars, strength grade of concrete, and anchorage length were considered influential factors. The finite element method (ABAQUS) was used for the validation of experimental results. The interface bond’s failure mechanism and the anchorage length in the prefabricated concrete under different concrete strength levels were explored and compared to national and international codes. A suitable value of the basic anchoring length for the prefabricated structure was recommended. The results show that the interface bond strength of prefabricated bridge members is directly proportional to the strength grade of the concrete, inversely proportional to the reinforcement diameter, and less related to anchorage length. The effect of the cover thickness of the surrounding concrete is negligible. Conversely, the bearing capacity of prefabricated bridge members depends on the strength of the concrete, the diameter of the steel bar, and the anchorage length. Furthermore, it is concluded that the mechanical bond strength accounts for 88% of the bond strength within prefabricated concrete.