The seismic performance of a coupled shear wall system is governed by the shear resistances of its coupling beams. The plate-reinforced composite (PRC) coupling beam is a newly developed form of coupling beam that exhibits high deformation and energy dissipation capacities. In this study, the shear capacity of plate-reinforced composite coupling beams was investigated. The shear strengths of PRC coupling beams with low span-to-depth ratios were calculated using a softened strut-and-tie model. In addition, a shear mechanical model and calculating method were established in combination with a multistrip model. Furthermore, a simplified formula was proposed to calculate the shear strengths of PRC coupling beams with low span-to-depth ratios. An analytical model was proposed based on the force mechanism of the composite coupling beam and was proven to exhibit adequate accuracy when compared with the available test results. The comparative results indicated that the new shear model exhibited more reasonable assessment accuracy and higher reliability. This method included a definite mechanical model and reasonably reflected the failure mechanisms of PRC coupling beams with low span-to-depth ratios not exceeding 2.5.