An innovative iron tailing and recycled aggregate concrete (ITRAC)-filled double steel plate composite shear wall (ITRAC-CSW) was proposed to promote the application of the fabricated composite structures and the green build materials. Firstly, the mix proportion of ITRAC was studied through the test of six groups of ITRAC samples by changing the recycled coarse aggregate (RCA) replacement ratio and water-binder ratio. Favorable mechanical properties and the corresponding mix proportion was obtained. The elastic modulus calculation and the constitutive model of the ITRAC were obtained based on the test results. Subsequently, three full-scale ITRAC-CSW specimens were fabricated using ITRAC with the 100% RCA replacement ratio and tested under the cyclic lateral load and constant axial load. The failure mode and deformation mechanism of the specimens were analyzed through experimental phenomena. The seismic performance of the specimen was explored by comparing the load–displacement curves, stiffness degradation, and energy dissipation capacity. The analysis revealed that the ITRAC-CSW exhibits good bearing capacity, stiffness, and energy dissipation capacity which can be used in practical project.