The first diagonal cracking and ultimate shear load of reinforced girder made of ultra high performance fiber reinforced concrete (UHPFRC) were investigated in this paper. Eleven girders were tested in which eight girders failed in shear. A simplified formulation for the first diagonal cracking load was proposed. An analytical model to predict the ultimate shear load was formulated based on the two bounds theory. A fiber reinforcing parameter was constituted based on the random assumption of steel fiber uniform distribution. The predicted values were compared with the conventional predictions and the test results. The proposed equation can be used for the first cracking status analysis, while the proposed equations for computing the ultimate shear strength can be used for the ultimate failure status analysis, which can also be utilized for numerical limit analysis of reinforced UHPFRC girder. The established fiber reinforcing theoretical model can also be a reference for micro-mechanics analysis of UHPFRC.