In order to investigate the tensile bond slip relationship between Australian 500N reinforcing bars and concrete, the concrete specimens with short anchorage length were cast and a series of pullout tests were done by using the laser displacement sensor(LDS) with high precision. The precise bond slip values and complete bond slip curves were obtained from the tests. Then the whole failure process for the bond slip of the bar in concrete, which can be divided into five stages：elastic stage, slip stage in some part, slip in ascent stage, slip in descent stage and remnant stage, was described in details on the basis of the test results. After that, the consistent model for tensile bond slip relationship of Australian 500N reinforcing steel in concrete was proposed by statistical regression and analysis of the test results.