GFRP tube filled with steel-reinforced concrete composite column, GSRC, is a new kind of composite column, in which the (shaped steel) reinforcing steel bar is set and the concrete is poured into GFRP tube. Under the action of eccentric loading, the damage signs of the composite columns with smaller and larger eccentricity were respectively that GFRP tube of compressive zone was crushed and the fiber of GFRP tube of tensional zone was ruptured. The tight hoop effect of the concrete given by GFRP tube only existed in compressive zone, and the restriction to the concrete of tensile zone was unobvious. The shaped steel inside GFRP tube had a positive effect on the bending rigidity and the bearing capacity of the member. Using the limit equilibrium theory, the calculation formula of the bearing capacity of GSRC subjected to eccentric loading was created. The calculated results agreed well with the experimental ones.