The contribution of steel fibers on the 28-day compressive strength of high-performance steel fiber reinforced concrete was investigated, is presented. An extensive experimentation was carried out over water-cementitious materials (w/cm) ratios ranging from 0.25 to 0.40, with silica fume-cementitious materials ratios from 0.05 to 0.15, and fiber volume fractions ($V_f$= 0.0, 0.5, 1.0 and 1.5%) with the aspect ratios of 80 and 53. Based on the test results of 44 concrete mixes, mathematical model was developed using statistical methods to quantify the effect of fiber content on compressive strength of HPSFRC in terms of fiber reinforcing index. The expression, being developed with strength ratios and not with absolute values of strengths, is independent of specimen parameters and is applicable to wide range of w/cm ratios, and used in the mix design of steel fiber reinforced concrete. The estimated strengths are within ${pm}3.2%$ of the actual values. The model was tested for the strength results of 14 mixes having fiber aspect ratio of 53. On examining the validity of the proposed model, there exists a good correlation between the predicted values and the experimental values of different researchers. Equation is also proposed for the size effect of the concrete specimens.