To study the shear mechanical property of corrugated steel webs, four H-shaped steel beams with trapezoidal corrugated steel webs were designed and tested to obtain the shear behavior of corrugated steel webs. In addition, the elastic bucking strength of the corrugated steel webs was discussed according to statistical data of their dimensions for the as-built PC composite box girders around the world. Then, we proposed the simplified computational formulae and the corresponding scope. Furthermore, considering that the local elastic bucking strength is less than global elastic bucking strength, the formulae for calculating the nonlinear shear strength presented by Yi and NIE were studied on the basis of some test results, and the test results were verified by comparing the analysis results of ANSYS software. It is concluded that the shear force is mainly borne by the corrugated steel webs and the distribution of the shear stress along the height of the web is uniform. And the shear capacity of corrugated steel webs will be greatly affected by the initial imperfections. What is more, the proposed computational formulae for the elastic bucking strength and nonlinear shear strength are in perfect accordance with the model test results and the numerical analysis results, so they can provide a reference for practical structural design.