The present study investigated the influence of key design parameters on the seismic performance of prefabricated precast assembled piers’ connection parts to better adapt to the industrialized construction of prefabricated precast assembled pier connected using grouting sleeves. Relying on a prefabricated assembled bridge in the actual project, the ABAQUS software was used to establish a refined solid finite element model of prefabricated assembled piers connected with grouting sleeves. Numerical simulation analysis was conducted for the piers with low circumferential reciprocating loading. The seismic performance of the prefabricated assembled piers was evaluated in terms of hysteresis characteristics, dissipation characteristics, and damage development. The effects of the length of the grouting sleeve and the diameter of the longitudinal reinforcement on the seismic performance were also investigated. The maximum error between the numerical simulation results and the test results was 5.7%, and the plastic region of the precast assembled pier obtained from the numerical simulation was consistent with the test results, indicating that the numerical simulation method is accurate and reliable. When the length of the grouting sleeve increased from 0.6 to 1.2 m, the yield load, peak load, and dissipation of energy of prefabricated assembled piers increased by 11.6%, 10.9%, and 11.4%, respectively; no significant change in residual displacement; ductility coefficient decreased by a small amount. When the longitudinal reinforcement diameter increased from 20 to 50 mm, prefabricated assembled piers yield load, peak load, and dissipation increased by 99.6%, 89.3%, and 218.9%, respectively, whereas the residual displacement increased by 137.3%, and the ductility coefficient decreased more. Increasing the length of the grouting sleeve or increasing the diameter of longitudinal reinforcement improved the stiffness of the piers, causing the piers to displace less and damage less under the same force, but the residual displacement would increase.