A new seismic energy dissipation shear wall structure is proposed in this paper. The new shear wall is one with purposely built-in vertical slits within the wall panel, and various seismic energy dissipation devices are installed in the vertical slits so that the dynamic characteristics of the structure (for instance, lateral stiffness, ductility and fundamental period) can be controlled. In order to verify this concept, shaking table tests of two 10-story shear wall models were carried out, and the seismic behavior of the two models are studied by analyzing the test data and computing the nonlinear seismic response of the models.