Coupled steel plate shear wall (C-SPSW) is one of the resisting systems with high ductility and energy absorption capacity. Energy dissipation in the C-SPSW system is accomplished by the bending and shear behavior of the link beams and SPSW. Energy dissipation and floor displacement control occur through link beams at low seismic levels, easily replaced after an earthquake. In this study, an innovative coupled steel plate shear wall with a yielding FUSE is presented. The system uses a high-ductility FUSE pin element instead of a link beam, which has good replaceability after the earthquake. In this study, four models of coupled steel plate shear walls were investigated with I-shaped link beam, I-shaped link beam with reduced beam section (RBS), box-link beam with RBS, and FUSE pin element under cyclic loading. The finite element method was used through ABAQUS software to develop the C-SPSW models. Two test specimens of coupled steel plate shear walls were validated to verify the finite element method results. Comparative results of the hysteresis curves obtained from the finite element analysis with the experimental curves indicated that the finite element model offered a good prediction of the hysteresis behavior of C-SPSW. It is demonstrated in this study that the FUSE pin can improve and increase the strength and energy dissipation of a C-SPSW system by 19% and 20%, respectively.