Based on the concept of structural passive control, a new type of slit shear wall, with improved seismic performance when compared to an ordinary solid shear wall, was proposed by the authors in 1996. The idea has been verified by a series of pseudo-static and dynamic tests. In this paper a macro numerical model is developed for the wall element and the energy dissipation device. Then, nonlinear time history analysis is carried out for a 10-story slit shear wall model tested on a shaking table. Furthermore, the seismic input energy and the individual energy dissipated by the components are calculated by a method based on Newmark-β assumptions for this shear wall model, and the advantages of this shear wall are further demonstrated by the calculation results from the viewpoint of energy. Finally, according to the seismic damage criterion on the basis of plastic accumulative energy and maximum response, the optimal analysis is carried out to select design parameters for the energy dissipation device.