This paper proposes a seismic design approach for precast concrete structural walls that use a combination of mild steel and high strength post-tensioning steel reinforcement across horizontal joints for flexural resistance. The mild steel reinforcement is designed to yield in tension and compression, providing inelastic energy dissipation. The post-tensioning steel provides self-centering capability, reducing the residual (i.e., permanent) lateral displacements of the wall due to a large earthquake. The proposed design approach is a performance-based approach that aims to limit the wall lateral displacements to an allowable target displacement. The design approach is critically evaluated based on nonlinear static and nonlinear dynamic time history analyses of two prototype walls. A design example is provided at the end of the paper.