Steel-concrete composite beams with corrugated steel webs (CSWs) usually have concrete flanges that are prone to crack under tension, and an innovative posttensioned composite beam (IPCB) with CSWs has been proposed previously to overcome this shortcoming. Here, an IPCB with CSWs is manufactured and submitted to a flexural test to investigate its flexural behavior, based on which finite element (FE) models with different parameters are developed and analyzed using the ANSYS software. The effects of the span-to-depth ratio, concrete compressive strength, initial effective prestress, width of the upper concrete flange, and yield strength of the steel tubes on the flexural behavior of the IPCBs with CSWs are discussed. Numerical results show that the span-to-depth ratio of the beam and the yield strength of the steel tube have a considerable effect on the ultimate load-carrying capacity of the IPCB, which increases by 48.2% when the depth of the CSWs is increased from 240 to 400 mm and by 21.8% when the yield strength of the steel tubes is increased from 295 to 395 MPa. The plane-section assumption is unsuitable for IPCBs. Almost all the unbonded posttensioning strands in the beams yield for the specimens at ultimate state. The normal stress is distributed unevenly across the width of the upper concrete flange, and the maximum shear lag coefficient is 1.17. Based on the numerical results, a calculation method is established to evaluate the bending moment resistance of an IPCB with CSWs. Comparison shows that the theoretical results in accordance with the proposed method agree well with the numerical results.