Abstract: Vertical pressure and lateral strain have large influence on the mechanical behavior of a lead rubber bearing (LRB). Base pounding is easily to occur under an extremely rare earthquake. A new kind of high performance combined bearing (HPMB) is proposed. It has high vertical bearing capacity and stable horizontal behavior, and can suit multi-level anti-seismic requirements. A static test of prototype devices was conducted. Horizontal hysteretic curves under varies conditions are obtained and a hysteretic model of HPMB is introduced based on test results. The seismic isolation design of a high-level frame-shear wall structure using HPMB system is conducted. The dynamic responses of HPMB system and original LRB system are compared. HPMB system has a satisfying horizontal isolation effect. Besides, HPMB system can significantly reduce the vertical tensile stress of bearings and can efficiently reduce isolation deformation under an extremely rare earthquake. HPMB system has multi-level anti-seismic behavior.