Base isolation is widely used in seismic resisting buildings due to its low construction cost, high reliability, mature theory and convenient usage. However, it is difficult to design the isolation layer in high-rise buildings using the available bearings because high-rise buildings are characterized with long period, low horizontal stiffness, and complex re-distribution of the internal forces under earthquake loads etc. In this paper, a simple and innovative isolation bearing, named Teflon-based lead rubber isolation bearing, is developed to address the mentioned problems. The Teflon-based lead rubber isolation bearing consists of friction material and lead rubber isolation bearing. Hence, it integrates advantages of friction bearings and lead rubber isolation bearings so that improves the stability of base isolation system. An experimental study was conducted to validate the effectiveness of this new bearing. The effects of vertical loading, displacement amplitude and loading frequency on the force-displacement relationship and energy dissipation capacity of the Teflon-based lead rubber isolation bearing were studied. An analytical model was also proposed to predict the force-displacement relationship of the new bearing. Comparison of analytical and experimental results showed that the analytical model can accurately predict the force-displacement relationship and elastic shear deflection of the Teflon-based lead rubber isolation bearings.