Abstract: To reduce the residual deformation and damage of shear walls after earthquakes, this study proposes a novel self-centering shear wall. The longitudinal reinforcements were replaced by shape memory alloy (SMA) bars and ordinary concrete was replaced by engineered cementitious composites (ECC) in the shear wall to achieve self-centering ability and to solve the problem of concrete brittle damage. A numerical model for self-centering shear walls was established upon OpenSees and the corresponding computational results were verified by comparing them with experimental results. Analyzed were the effects of parameters such as axial compression ratio, shear span ratio, SMA reinforcement ratio, SMA yield strength, and ECC ultimate tensile strain on the hysteretic performance. The results indicate that the axial compression ratio and shear span ratio of the component have a significant impact on the bearing capacity. High shear span ratio components have better self-centering performance. The self-centering capacity can be better realized by increasing the ratio of SMA reinforcement. The self-centering performance and bearing capacity increase with the increase of SMA yield strength. The ultimate tensile strain of ECC mainly affects the ductility performance of the component.