As a novel structural component, the Double Corrugated Steel Plate Shear Wall (DCSPSW) is formed by interlocking two corrugated steel plates using high-strength bolts. This paper investigates the global stability design methods for DCSPSWs under combined shear and compression loads. Firstly, this paper examines the elastic buckling performance of DCSPSWs under horizontal shear loads and vertical compression loads separately. A bolt spacing factor (η) is introduced to reflect the influence of bolt spacing on the elastic buckling stress of DCSPSWs. Then, based on extensive finite element analysis (FEA), this paper investigates the elastoplastic buckling behavior of DCSPSWs under shear loads and compression loads and establishes the corresponding stability curves to predict ultimate load-bearing capacity. It is found that the stability coefficients (φs and φc) are closely related to the normalized slenderness ratios (λns and λnc). A smaller bolt spacing allows the DCSPSWs to exhibit improved elastic and elastoplastic stability. Finally, this study investigates the load-bearing performance of DCSPSWs under combined shear and compression loads and proposes the design formulas. The results show that the correlation curve of N/Nu-V/Vu can provide a conservative and accurate design. The research findings of this paper are advantageous for promoting the application of the innovative DCSPSWs.