Fin efficiency, as a measure of the effectiveness of the heat transfer enhancement, is of great importance in studying the heat transfer performance of H-type finned tube banks. The fin efficiency of square fins is adopted by most researchers as an alternative to that of H-type fins, which can create certain errors in the fin efficiency of H-type fins. For this paper, the linear nomograms and fitting formulae of fin efficiency of H-type fins are obtained by the definition method of fin efficiency based on numerous numerical simulations, and the results calculated by this method are verified by experimental data. On this basis, the effects of three geometric parameters (slit width, fin height, and fin thickness) and two thermal parameters (surface heat transfer coefficient and fin thermal conductivity) on the fin efficiency of H-type fins are also investigated and compared to those of square fins. The results indicate that the fin efficiency of H-type fins increases with the increment of fin thickness and thermal conductivity, and decreases with the increase of slit width, fin height, and surface heat transfer coefficient. Accordingly, the linear nomograms and fitting formulae for the fin efficiency of H-type fins, which are well compatible with experimental data, can help to facilitate further theoretical research and engineering application.