This paper proposed an innovative precast steel-reinforced concrete (PPSRC) squat wall to simplify on-site construction. In PPSRC squat shear walls, the hollowly precast RC wall panel can be assembled on-site through the pre-erected steel shapes, and the boundary cores will be filled using fresh concrete together with the slab system. The seismic performance of PPSRC squat walls, influenced by different construction techniques (cast-in-place vs. precast) and steel ratios, was examined through pseudo-static experiments on three specimens. Some key performance indicators, including hysteretic behavior, skeleton curves, stiffness degradation, energy dissipation, and load-carrying capacity, were analyzed in detail. The test results indicated that all the PPSRC squat walls failed in typical shear failure, and no significant slippage between the precast and fresh concrete sections was observed during the loading process, indicating that the composite action could be fully achieved via the novel throat connectors. In addition, the PPSRC squat walls could achieve comparable seismic performance compared with that of cast-in-place SRC shear walls (the peak load of the PPSRC squat wall only increased by 0.26% compared with the control specimen), and the load-carrying capacity and deformability could be enhanced by increasing the steel ratio in the boundary elements. Finally, an elaborate finite element model was developed and validated using ABAQUS software. The parametric analysis of the concrete strengths of precast and cast-in-place parts and the axial load was conducted further to investigate the seismic performance of PPSRC squat walls.