An innovative fabricated double steel tube-encased and high strength concrete-filled (FDSHC) composite shear wall suitable for high-rise buildings is proposed in this study, and its seismic performance is verified by experiments. The failure mode and hysteretic behavior of specimens were analyzed through the compression-bending-shear test of six FDSHC specimens with two stories and the tension-bending-shear test of six FDSHC specimens with a single story. The effects of axial force, section content ratio of concrete-filled steel tube, eccentricity, and the pos-sibility of welded outer steel tube on their seismic performance were studied. Results show that the failure mode of the specimens is a bending-shear composite failure. The specimens have high bearing capacity under the compression (tension)-bending-shear composite loads, demonstrating full hysteretic loops, good energy consumption capacity, and overall assembly performance. A high axial compression ratio (or small axial tension ratio) leads to high peak strength. Meanwhile, a large eccentricity results in a weak energy consumption capacity. The influence of section content ratio and the possibility of welded outer steel tube was not observed. Compared with the traditional prefabricated concrete shear wall, FDSHC composite shear wall has the advantages of easy assembly, high bearing capacity, and low cost. The seismic performance of this composite shear wall is also excellent, which is expected to be popularized and applied in prefabricated high-rise buildings.