The response of hybrid Shape Memory Alloy (SMA)-steel reinforced concrete shear walls containing Nickel-Titanium superelastic SMA as alternative reinforcement in the plastic hinge region was investigated using nonlinear finite element modelling. The hybrid wall system promotes self-centering and significant reduction of permanent deformations. Two types of conventional steel-reinforced concrete shear walls were designed for a prototype 10-storey office building according to the current Canadian concrete design standard, assuming two distinct seismic design scenarios. A moderately ductile shear wall was designed for a moderate seismic zone in eastern Canada, whereas a ductile shear wall was designed for a high seismic zone in western Canada. Equivalent, hybrid SMA-steel reinforced concrete shear walls were defined following the design of the two conventional shear walls, in terms of geometry and reinforcement layout. Full-scale, two-dimensional finite element models were developed to assess the pushover and hysteretic responses of the walls. Similarities in wall cross-section and yield force capacity of the steel and SMA reinforcement permitted a comparison between the walls, including strength, stiffness, self-centering, and energy dissipation capacities. The results indicate similar lateral strength and displacement capacities, and superior restoring capacity of the SMA-reinforced walls in comparison to the steel-reinforced walls. Furthermore, a preliminary study was conducted to investigate the effect of the SMA-bar length in the ductile wall due to concentration of damage near the base of the wall. Lengths corresponding to approximately 50% and 20% of the original SMA length were considered. Based on the analyses, a satisfactory response could be achieved with shorter SMA reinforcing bars, which reduces the quantity of SMA reinforcement without significant loss in self-centering capacity.