In order to study the seismic performance of the SRC-RC vertical hybrid structure, two test models were designed. The upper and lower stories of one model were filled with masonry walls. The low-cyclic repeated loading test was conducted to study the damage failure and performance indices of the model. The influence of the infilled wall on the seismic performance was analyzed, and the key performance indices such as hysteresis curve, bearing capacity, drift ratio and ductility coefficient were obtained. Hysteresis curve of the frame without infilled walls was full, and the “pinching” effect was not remarkable. For the frame with infilled walls, the significant “pinching” effect could be observed in the hysteresis loop, and the obvious slip appeared in the middle of the curve. The bearing capacity of the frame with infilled walls decreased quickly after cracking of walls. Although yield displacements of two models are close, the plastic development ability of the frame without infilled walls is remarkably superior to that of the frame with infilled walls. In the yield stage and the failure stage, the infilled walls greatly restrain the lateral movement of the frame, which leads to the obvious shortening of the plastic development stage. Frame fails when the plastic hinges are formed at the column bottom of the lower storey and the column top of the top storey, exhibiting the failure pattern of strong shear and weak bending. More stirrups may yield due to the infilled walls, and prominent shear characteristics of the frame can be observed.