To obtain a good prediction of the grouted pile behavior under vertical loads, an iteration method based on the hyperbolic load transfer function is developed to determine the load settlement relationship of the grouted pile in this paper. The calculation procedure for a single grouted pile in layered soil is presented. Four improvement factors are introduced to account for the effect of grouting on the side friction and end resistance. The empirical range of the improvement factor is also given based on statistical analysis. Finally, a case history is cited to indicate the validity of the presented method. The results show that the presented method can predict the range of load settlement relationship of the pile head well. It is suggested that the predicted lower bound can be used for a conservative design.