This paper presents an improved bi-material beam theory with adhesive interface and the new prestressed-fiber reinforced polymer (FRP) - model, which has been applied to the study the problem of interfacial stresses. This work explicitly considers the interfacial slip effect on the structural performance by including both the effect of adherend shear deformations and the fiber volume fraction of the prestressed laminates. This new method needs only one differential equation to determine both shear and normal interfacial stress, which is one aspect that has not been taken into account by the previous studies in the literature. A parametrical study is carried out to show the effects of some design variables, e.g., stiffness and thickness of adhesive layer and FRP plate.