The corrugated steel plate shear wall is an effective and economical lateral load resisting system. And the thin steel plate is easy to buckle. And it is necessary to use much more thickness or ribs to prevent the buckle at out of plane direction, which is not economical or complicated to construct. A number of corrugated shear walls are analyzed by nonlinear static pushover analysis method. And failure modes, buckling, the ultimate capacity, and shear force-drift curves are studied. The results showed that the corrugated steel plate can be designed according to the failure modes, in order to have a desirable failure mode that the corrugated steel plate yield before buckling.