Recoverable anchors, characterized by low carbon footprint and environmental friendliness, have been increasingly applied in urban foundation pit support projects. However, the evolution of their bearing performance under cyclic traffic loading has not been thoroughly studied. In this study, element-scale tests were conducted to examine the mechanical characteristics of the anchor-rock interface under different cyclic loading parameters. These tests captured the complete shear stress-shear displacement curve (i.e., τ-s curve) of the anchor-rock interface under cyclic loading. Based on the experimental results, a unified model was developed to describe the degradation of shear strength at the anchor-rock interface, accounting for the effects of the reference load ratio and the number of load cycles. Based on the morphological characteristics of the τ-s curve at the anchor-rock interface, a composite τ-s curve model for the anchor-rock interface was established, consisting of a linear segment and a sudden drop curve. Furthermore, a unified degradation model for the τ-s curve of the anchor-rock interface was developed, accounting for the effects of the reference load ratio and the number of load cycles. The model demonstrates good predictive performance. Finally, a theoretical framework of load transfer of recoverable anchors under cyclic loading considering the Poisson effect was established, and the influence of cyclic loading on the ultimate bearing capacity of engineering anchors was investigated. The research results can provide a reliable theoretical basis for the engineering application of recyclable anchors.