The paper deals with the collapse behavior of a historical masonry arch bridge subject to combined seismic loads, by means of the limit analysis and shakedown theorems. The assessment of the collapse loads and shakedown multiplier have been analyzed using lower bound theorems of the limit analysis and shakedown theory. The retrofitting consists in the application of CFRP strips on the extrados of the arch with a significant increase of the collapses and shakedown multipliers. The results of a FEM analysis have been achieved with ANSYS code involving the non-linear material behavior and the structural role of the spandrel walls and filling