In this paper, the problem of a V-notch with complex boundary conditions in a piezoelectric bi-material strip is studied. First, SH guided wave is considered as an external load acting on the piezoelectric bi-material strip; on the basis of repeated image superposition, the analytical expression of scattering wave is conducted, which satisfies the stress-free and electric insulation conditions on the upper and lower horizontal boundaries of the strip. Then, the analytical expression of standing wave is established, which satisfies the stress-free and electric insulation conditions on the boundaries of V-notch by the fractional Bessel function expansion method and Graf addition theorem. Finally, Green’s function method is applied, the bi-material strip is divided into two parts along the vertical interface, a pair of in-plane electric field and out-plane forces is applied on the vertical interface, and the first kind of Fredholm integral equations is set up and solved by applying the orthogonal function expansion technique and effective truncation. Results clarified the influence on the dynamic stress concentration factor and electric field intensity concentration factor under proper conditions. Besides, the analytical solutions are compared with the finite element solutions to verify the accuracy of the conclusions in this article.