A novel bolted connection for prefabricated modular structures is proposed. Five full-scale joint specimens were tested under cyclic loads, and finite element analysis was conducted to investigate the joint performance. The influences of the bolt diameter, the column flange thickness, the connecting plate thickness, and the connection forms between beam flanges of the upper and the lower box modules were analyzed, and the joint rotational stiffness was evaluated. According to the results, the bolted beam flanges can significantly improve the hysteretic performance, yield resistance, ultimate resistance and energy dissipation capacity of the joint. A thin connecting plate can effectively prevent the yielding of the ceiling beam web. The joint can be classified as a full-strength according to the Eurocode. Simplified formulas for the yield and ultimate resistances were proposed and evaluated to be accurate and practical for performance predictions and design of the proposed joint.