In order to ensure desirable overall performance between interior panel and exterior panel for precast concrete sandwich panels, the shear performance of a new composite connector is investigated in this paper through the experiment of shear specimens, including 4 groups of bilateral shear test specimens and 8 groups of unilateral shear test specimens. The connector’s shear capability and shear failure process phenomenon of destruction of all specimens are obtained. Then the effect rule on shear performance of connector from positional relation of connector and distribution reinforcement and concrete strength are gained. The experimental results and analysis show that the shear failure model is bending shear failure of connector’s reinforcing steel bar, which is brittle failure; the measured value of shear force of experiment compared to the measures values for the actual project, the new composite connector provides an enough safety reserve; The relative position of connector and distribution reinforcement and concrete strength have no influence on the ultimate bearing shear capability; The shear performance of the new composite connector could satisfy the use requirement of sandwich wall panels based on the text results. Furthermore, the connectors perform superb anchoring bond and deformation capability. According to the results and analysis, the new composite connector could be popularly used in engineering practice.