This paper presents a reliability-based analysis on seismic performance of timber-steel hybrid shear wall systems. Such system is composed of steel moment resisting frame and infill wood frame shear wall. The performance criteria of the hybrid system with respect to different seismic hazard levels were determined through a damage assessment process, and the effectiveness of the infill wood shear walls on improving the seismic performance of the hybrid systems was evaluated. Performance curves were obtained by considering different target non-exceedance probabilities, and design charts were further established as a function of seismic weight. Wall drift responses and shear forces in wood-steel bolted connections were used as performance criteria in establishing the performance curves to illustrate the proposed design procedure. It was found that the presence of the infill wood shear walls significantly reduced the non-performance probabilities of the hybrid wall systems. This study provides performance-based seismic evaluations on the timber-steel hybrid shear walls in support of future applications of such hybrid systems in multi-story buildings.