An economic performance evaluation scheme of historic buildings that consider the effect of structural renovation is proposed to provide information facilitating to the selection of reasonable renovation methods for preserving historic buildings. Ground motion scenarios, herein referred to as "lifecycle earthquake scenarios" in accordance with the previous research, were simulated to represent the annual maximum earthquake intensity data from the year of decision-making until the end year of the building's lifetime. Additionally, the structural characteristics of historic buildings with masonry infill walls as part of the structure were analyzed under the "lifecycle earthquake scenarios." Through a parametric analysis accounting for the change in structural characteristics and the repair costs in the lifecycle earthquake scenarios, the economic performance of historic buildings was calculated. Based on the results, the demand spectrum that satisfied the economic performance was obtained. This demand spectrum can provide the optimal structural renovation method to facilitate the building owner in making decisions regarding preservation.