Based on the unified strength theory, the bearing capacity of the concrete filled square steel tube short columns with inner CFRP circular tube under eccentric compression was analyzed. The restriction effect of the inner CFRP circular tube upon the core concrete, strength reduction factor for eccentricity ratio and the equivalent reduction factor, which considered the ratio of thickness to side effect, were taken into account in the theoretical analysis. The axial bearing capacity formula of the square steel tube short columns filled with inner CFRP circular tube was deduced. By introducing the strength reduction factor for eccentricity ratio, the eccentric bearing capacity formula on the basis of the axial bearing capacity formula was obtained. Parametric studies were carried out to evaluate the effects of intermediate principal stress, different CFRP deployment ratios, eccentricity ratios and the tension-compression ratio on the eccentric bearing capacity of the column. The formula was verified by the comparison of the theoretical results with the experimental data. The results show that inner CFRP circular tube can effectively restrain the core concrete.