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An analysis method for predicting the response of low-rise shear walls under both monotonic and cyclic loading is presented in this paper. The proposed analysis method is based on the softened truss model theory but utilizes newly proposed cyclic constitutive relationships for concrete and steel bars obtained from cyclic shear testing. The successfulness of the analysis method, when combined with new materials constitutive relationships, is checked against the test results of 33 low-rise shear walls reported in the technical literature. The theoretical predictions are compared with the reported test results and are found to be applicable throughout the loading history. The effects of loading types (monotonic versus cyclic) as well as the effects of the boundary elements on the predicted results are also addressed.