Since bolting is a common connecting method in steel construction, structural costs can be reduced if the bolted connection can be reasonably designed and analyzed by taking advantages of the ductile behavior of joints. Especially, well-designed group-bolted connections exhibit excellent ductile behavior through bearing or slip-bearing mechanism. The primary objective of this study is to develop rational analytical modeling procedures and ultimate strength of bearing-type bolted connections by utilizing their inherent ductility. The behavior of group-bolts subjected to eccentric loads was investigated through beam-to-column subframe tests. Analytical modeling of observed inelastic behavior of group-bolted connections under monotonic and cyclic loading was developed by combining the load-deformation relationship and the deformation limit of the single-bolted joint and ICRM. Two procedures (a numerical approach and a step-by-step analytical procedure) were proposed to determine the instantaneous center of rotation. Through comparison of the hysteretic behavior and the ultimate loads from the experiments with analytical results, it was shown that the proposed method can more accurately predict the behavior of the bolt group than existing methods. Based on the analytical hysteretic curve, the equivalent viscous damping ratio of the group-bolted joints was also estimated. These results can be applied to simulate the hysteretic behavior of beam-to-column connections under cyclic seismic loading.