The current study investigates the seismic performance of shear-dominant RC columns retrofitted with iron-based shape memory alloy (Fe SMA). Three RC columns with insufficient transverse reinforcement were designed and fabricated for lateral cyclic loading tests. Before testing, two specimens were externally confined with carbon fiber-reinforced polymer (CFRP) sheets and self-prestressed Fe SMA strips. The test results showed that both CFRP and Fe SMA performed well in preventing severe shear failure exhibited by the unretrofitted control specimen. Furthermore, the two retrofitted specimens showed ductile flexural responses up to the drift ratios of ±8%. In terms of damage control, however, the Fe SMA confinement was superior to CFRP confinement in that the spalling of concrete was much less and that the rupture of confinement did not occur.