Considering the cooperative working performance of negative Poisson’s ratio rebar (NPR rebar) and ultra high performance concrete (UHPC), central pull-out tests on 27 pull-out specimens were conducted, and the effects of UHPC type, rebar shape, embedded depth, and protective layer thickness on the bonding performance between NPR rebar and UHPC were studied. The damage and failure modes of bond slip failure between NPR rebar and high-strain strengthened UHPC were analyzed by acoustic emission technology. Results show that the bond performance between high-strain strengthened UHPC and NPR rebar was better than that between low-strain strengthened UHPC and strain softened UHPC. With the increase in embedded depth, the ultimate load of the pull-out test gradually increased, and the trend of load-slip curves did not change obviously. When the thickness of protective layer was small, the failure of the specimen was brittle. The bond slip failure between NPR rebar and high-strain strengthened UHPC could be divided into initial, failure, and residual stages. Acoustic emission test could better characterize the evolution process of internal damage in the matrix during the failure process.