A total of four full-scale low-rise recycled aggregate concrete shear wall specimens were tested adopting a quasi-static loading method to analyze the seismic performance. The low-rise shear walls consisted of recycled aggregate concrete, single-layer reinforcements, concealed special-shaped columns, and expanded polystyrene thermal insulation modules. Based on the experimental results, the seismic performance and failure characteristic of the specimens were comparatively analyzed. The factors affecting the seismic performance of the low-rise shear wall were also analyzed. The shear bearing capacity calculation model and formula of the walls were proposed based on the softened strut-and-tie model. A comparison of the calculated results and the experimental results shows that they are in good agreement. The results show that the load bearing capacity and deformation capacity can be significantly improved by expanded polystyrene thermal insulation modules, and that the shear wall specimens with higher recycled aggregate concrete strength and larger reinforcement ratio of the shear wall exhibit better seismic performance.