A variety of innovative structural solutions have been recently introduced to mitigate damage and expedite the repair of buildings subjected to extreme seismic events, hence contributing to the urgent need for resilient societies. In this context, the present study experimentally and numerically investigates an innovative reinforced concrete (RC) shear wall (SW) structure with replaceable coupling beams (CBs) equipped with hybrid devices. These hybrid devices couple metallic and viscoelastic dampers and aim at satisfying multiple lateral load performances effectively. To assess the seismic performance of the proposed coupled SW system and verify the design principle, comparative shaking table tests were performed on two 1/4‐scale seven‐story SW structure specimens, including a conventional RC coupled SW and the proposed coupled SW with hybrid devices. The tests results indicate the improved performance of the proposed compared with the conventional system in terms of: (1) reduced interstory drifts and story accelerations demand under a wide range of seismic intensities, (2) concentrated damage in the hybrid device and minimal damage to the other components contributing to the reparability of the structure. Furthermore, 3D finite element models for the shaking table test specimens were established in OpenSees and validated against experimental response. Successively, a numerical parametric study was conducted by performing non‐linear response history analyses under a set of 22 ground motions to investigate the influence of different design configurations of the hybrid device on the peak interstory drifts and peak story accelerations.