To investigate the seismic performance of buckling-restrained braces under the earthquake action, the shaking table test with a two-story 1/4 scale model is carried out for the ordinary pure steel frame and the buckling-restrained bracing steel frame with low-yield-point steel as the core plate. The failure modes, dynamic characteristics, acceleration response, interstory drift ratio, strain, shear force, and other mechanical properties of those two comparative structures subjected to different levels of seismic waves are mainly evaluated by the experiment. The test results show that under the action of seismic waves with different intensities, the apparent observations of damage occur in the pure frame structure, while no obvious or serious damage in the steel members of BRB structure is observed. With the increase in loading peak acceleration for the earthquake waves, the natural frequency of both structures gradually decreases and the damping ratio gradually increases. At the end of the test, the stiffness degradation rate of the pure frame structure is 11.2%, while that of the buckling-restrained bracing steel frame structure is only 5.4%. The acceleration response of the buckling-restrained bracing steel frame is smaller than that of the pure steel frame, and the acceleration amplification factor at the second story is larger than that at the first story for both structures. The average interstory drift ratios are, respectively, 1/847 and 1/238 for the pure steel frame under the frequent earthquake and rare earthquake and are 1/3000 and 1/314 for the buckling-restrained bracing steel frame, which reveals that the reduction rate of lateral displacement reaches a maximum of 71.71% after the installation of buckling-restrained brace in the pure steel frame. The strain values at each measuring point of the structural beam and column gradually increase with the increase of the peak seismic acceleration, but the strain values of the pure steel frame are significantly larger than those of the buckling-restrained bracing steel frame, which indicates that the buckling-restrained brace as the first seismic line of defense in the structure can dramatically protect the significant structural members. The maximum shear force at each floor of the structure decreases with the increase in height, and the shear response of the pure frame is apparently higher than that of the buckling-restrained bracing structure.