This paper proposes an innovative use of corrugated steel plates as the webs of the crossbeam in the tower of a suspension bridge to get better seismic performance. Three 1/4-scaled models of composite beam with corrugated steel webs considering different shear-span ratio were fabricated to conduct quasi-static test. The structural behaviors including failure modes, hysteretic curves, ductility, strength and stiffness degradation, energy dissipation capacity, deformation recovery ability, shear force distribution and strain responses were investigated. Test results indicate that the specimen with large shear-span ratio presents ductile flexural failure, and the hysteretic curve is stable and plump with slight pinching, which indicates good energy dissipation performance. However, the specimen with small shear-span ratio fails due to brittle shear buckling of corrugated steel web, showing remarkable pinching phenomenon and poor hysteretic behavior. With the increase of shear-span ratio, the load-carrying capacity and lateral initial stiffness are reduced, but the ductility and energy dissipation ability are improved significantly. The energy dissipation capacity of such composite beam is better than that of the RC structures, the strength degradation is slight for the specimen with a proper shear-span ratio, and the deformation recovery ability is good for all test specimens. The corrugated steel web carries about 80% of the shear force and shear stress uniformly distributed along the web height. The test results demonstrate that the composite beam with corrugated steel web of a reasonable shear-span ratio can be applied in anti-seismic structure with superior energy dissipation performance. In addition, simplified formulas were proposed to evaluate the flexural strength and shear buckling strength of a composite beam with corrugated steel webs, the calculated results agree well with the test results, verifying the accuracy of these proposed formulas.