Abstract: Addressing the issues of insufficient research on the flexural performance of steel-wood joist foam concrete composite lightweight wall panels and unclear mechanical properties, this study systematically compared the mechanical properties of steel-wood joist and light steel joist wall panels through numerical simulation methods. It also deeply analyzed the effects of wood strength, foam concrete strength, and the use of structural adhesive between steel-wood joists on the flexural performance of the wall panels. The research results show that compared to light steel joist foam concrete wall panels, the steel-wood joist foam concrete wall panels have an increase in ultimate load and stiffness of 51.63% and 52.08%, respectively. The increase in wood strength can significantly enhance the ultimate bearing capacity of the composite wall panels. Specifically, for every 20 MPa increase in wood strength, the ultimate bearing capacity of the composite wall panels can increase by 15.09% to 17.80%, but its impact on stiffness is not significant. The increase in foam concrete strength can simultaneously enhance the ultimate load and stiffness of the composite wall panels. For every 3 MPa increase in foam concrete strength, the ultimate load and stiffness of the composite wall panels can increase by 10.40% to 15.90% and 8.72% to 9.09%, respectively. In contrast, the enhancement effect of structural adhesive on the overall performance of the composite wall panels is relatively limited. The research findings of this study provide a theoretical basis for the design and application of steel-wood joist foam concrete wall panels, which is conducive to promoting the promotion and application of steel-wood joists and their corresponding structural forms.