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This paper introduces an innovative structure for a self-restrained grid shear wall with diagonal CFRP-steel composite strips. Steel and CFRP strips are interwoven to enhance the structural integrity of the shear wall. Quasi-static tests are initially conducted on two shear wall specimens with and without diagonal CFRP-steel composite strips. Subsequently, a finite element model is established to represent the self-restrained grid shear wall with diagonal CFRP-steel composite strips. This model is helpful for exploring the influence of composite strips arrangement on the performance of shear walls. Furthermore, a prediction formula is developed to estimate the load-bearing capacity of the CFRP-steel composite strips grid shear wall. The test results show that the yield bearing capacity, ultimate bearing capacity, stiffness and energy dissipation capacity of the specimens increase by 46.6%, 58.2%, 43.6%, and 16.3% respectively after the replacement of composite strips. In addition, the results of finite element simulation indicate that the diagonal arrangement exhibits the highest efficiency in the use of CFRP materials among three reinforced structural forms-diagonal, spaced, and fully arranged composite strips. This arrangement is also the most economical and has the least adverse influence on the internal forces of the frame columns. • Completely discrete steel slit shear wall into steel plate strips. • The steel and CFRP strips are interwoven to enhance the seismic performance of the shear wall. • The effects of different composite strip arrangements are investigated. • The prediction formula of the ultimate bearing capacity of the grid shear wall with CFRP-steel composite strips has been derived. [ABSTRACT FROM AUTHOR]