Current Chinese design codes have not calibrated the reliable index of shear capacity of shear wall. In order to study the reliability level of shear bearing capacity of reinforced concrete shear wall, this paper collected and selected 74 shear wall specimens that are consistent with the ones based on the shear formulas of shear wall in terms of section type, concrete type, reinforcement type and failure mode. By analyzing the test and calculated values of shear capacity for the specimens, the statistical parameters of calculation model uncertainty were obtained, and then the statistical parameters and probability distribution types of resistance were obtained. The checking point method considering the probability distribution of basic variables was used to calculate the reliability index. The results show that the reliability index of shear capacity of shear wall in current code is lower than the target reliability index 3.7. Load effect ratio, shear span ratio, axial pressure, reinforcement ratio and concrete strength grade have little influence on the reliability index. The wind-to-dead load ratio has great influence on the reliability index. The reliability index of distributed rebar with HPB300 is small under the same conditions. In order to ensure that the reliability index of shear capacity of shear wall meets the requirements of target reliability index, a bearing capacity adjustment coefficient of 0.95 is introduced to modify the current calculation formula. The average value of reliable index in the revised formula is 3.738.