Abstract: The connecting steel frame (CSF) and high strength bolt (HSB) are utilized as connecting components to connect the upper and lower precast reinforced concrete shear wall panels. To evaluate the seismic performance of this innovative precast shear wall with horizontal joint, monotonic loading test and low-cyclic reversed loading test were conducted on two test walls. The test results show that the deformability, ductility, and energy-dissipating capacity of the test walls are comparable to those of other assembled monolithic shear wall as well as the cast-in-situ shear wall. Based on the experimental investigation, the theoretical formulas in consideration of the effect of the connecting components for the loads and displacements of the yielding point, peak point, and failure point of the test walls are deduced. These formulas reflect the major features of this novel structural member, the results of which meet well with the test results. The computed results show that the influence of the deformation of connecting steel frame on the total lateral displacement could be ignored, while the lateral displacement caused by the slippage of the high strength bolts takes up 12.0%~44.8% in the total lateral displacement.