Fabricated corrugated steel silos are widely used for grain storage, and the corrugated steel plates with bolt lap connections are often used as the silo wall. This paper aims to research the mechanical performance of bolt connections of corrugated steel plates. Experiments were conducted for eight groups of specimens subjected to various parameters. The finite element models took into account the material nonlinearities, geometry nonlinearities and contact nonlinearities. The major factors (plate thickness and wave height) were selected, and parametric studies were performed. It is found that the ultimate bearing capacities of corrugated steel plate specimens are smaller than those of the flat steel plate specimens, and the ultimate displacements of the former are larger than those of the latter. The attaching degree between the nuts and the steel plates is a primary factor of the difference. The finite element results are in good agreement with the experimental results. The ultimate bearing capacity of single-bolt connections of corrugated steel plates shows an increasing trend with the increase in plate thickness, and the ultimate displacement and ultimate bearing capacity both increase as the wave height decreases. When the wave height of the specimen decreases to 0 mm, the ultimate bearing capacity and ultimate displacement increase significantly.