In the shaking table test of steel frames-steel shear wall system, a problem is that the thickness of the steel plate shear wall(SPSW) in the scale model is too small. In order to solve this problem, this paper proposes two equivalent models:concentrically braced frames and I shape of steel plate shear walls. Both of the two models are based on principles of equivalent initial lateral stiffness or bearing capacity of the structure. The finite element analysis program ABAQUS was used to establish the refined model, using the method of numerical analysis. And the stiffness, bearing capacity and other seismic performance of the prototype SPSW and equivalent models were compared and analyzed. The results show the two equivalent substitution models both have good energy consumption capacity and can solve the problem of small thickness. In addition, the concentrically braced frames model can only make sure either stiffness or bearing capacity equivalent, but I shape of steel plate shear walls model can ensure both stiffness and bearing capacity equivalent, which provides some suggestions for the equivalent models of SPSW in shaking table tests.