Reinforcement corrosion in shield tunnel segments has an important impact on the structure's bearing capacity and failure mode. Generally, a shield tunnel structure is under small eccentric compression, but if the reinforcement corrosion develops sufficiently, then a transition occurs from small to large eccentric load state, thereby lowering the structural bearing capacity and endangering the safety of tunnel operation. In the study reported here, based on the compressive bending load characteristics of the shield lining structure, corrosion test columns with small eccentric loading were designed to simulate the actual force state of the tunnel lining, and the whole evolution process of their mid‐span strain, ultimate bearing capacity, and cracks under different corrosion degrees was analyzed. With increasing corrosion, the bearing capacity, concrete strain, and depth of the compressive zone of a test column decrease more and more rapidly, and at the maximum corrosion degree of 68.32%, the maximum reduction of bearing capacity is 53.23%. The tests show that the failure mode of a test column with high corrosion degree (≥46.25%) is transformed from small to large eccentric failure. Based on theoretical analysis of the normal section bearing capacity of reinforced concrete flexural members, a theoretical method is proposed for calculating the critical corrosion degree for the tunnel lining structure to transform from small to large eccentric failure. The theoretical calculation method is verified against finite‐element calculations, and the present research results offer theoretical support for the durability design and safety evaluation of shield tunnel lining structures.