The interaction properties between natural fiber and matrix play an important role in the mechanical performance of composite materials. The adhesion properties and the mechanical interaction between an Ichu fiber (Stipa obtusa) treated with sodium hydroxide and a cementitious matrix were studied by conducting experimental, numerical, and analytical pull-out tests. Through the experimental tests, the force–displacement curve for a fiber length embedded 5 mm deep in the cementitious matrix, maximum force, cohesive parameters, and the type of interface failure were determined. The results were used to calibrate the numerical and analytical models for different lengths of fiber (3, 5, 7, 9, and 11 mm) embedded in the cementitious matrix. The numerical model was implemented in the finite element software Abaqus CAE, and the analytical formulation considered the fiber embedded in a half-space continuous medium. From the experimental test, the force–displacement curve, interfacial shear strength of 0.124 MPa, and the softening type slip were obtained, despite obtaining the hardening-type slip in certain tests. The numerical and analytical results of the load–displacement curve closely approximate the experimental results. This study provides a numerical and analytical model to simulate the alkali-treated Ichu fiber–cementitous matrix interface.