Fiber reinforced plastic (FRP) rods are used as reinforcement (prestressed or not) to concrete. FRP composites can also be combined with steel to form hybrid reinforcing rods that take advantage of the properties of both materials. In order to effectively utilize these rods, their bond behavior with concrete must be understood. The objective of this study is to characterize and model the bond behavior of hybrid FRP rods made with epoxy-impregnated aramid or poly-vinyl alcohol FRP skins directly braided onto a steel core. The model closely examines the split failure of the concrete by quantifying the relationship between slip of the rods resulting transverse stress field in concrete. The model is used to derive coefficients of friction for these rods and, from these, their development length requirements. More testing is needed to confirm this model, but in the interim, it may serve as a design aide, allowing intelligent decisions regarding concrete cover and development length. As such, this model has helped to explain and predict some experimental data from concentric pull-out tests of hybrid FRP rods.