Steel corrosion is mainly at fault for the trend of deterioration among U.S. infrastructure—namely, bridges, pipelines, and wharves. Reinforced concrete (RC) is used as the primary construction material worldwide. Reinforcement corrosion can significantly impair mechanical properties of RC members, including shear and bending capacities. In the past decades, several attempts have been made to investigate the impacts of corrosion on the mechanical behavior of RC members. It can be observed that the number of research programs conducted on this topic has rapidly increased in recent years. Therefore, there is a need in the body of knowledge to encapsulate the relevant findings in the form of a state-of-the-art review. This paper presents a chronological literature review of investigations on different components of mechanical behavior of RC beams (including shear and flexural strengths) under corrosion. The most significant contributions of these studies are identified and presented. This study presents simple relationships that rely on the current literature to be used by practitioners and designers for quick evaluation of RC beams in corrosion distress.