In this study, nonlinear finite element analysis based on the Modified Compression Field Theory has been conducted to evaluate shear strength of RC walls with opening. On the analysis, reinforcement ratio within development length of rebars nearby the opening was reduced in the model in order to investigate the effect of opening on shear strength of RC shear walls. The nonlinear finite element analysis has been verified through comparison with the test result in literature. Through the verification, it was investigated that the analysis considering the development length of rebars well reflected the effect of an opening on shear strength of RC shear walls while current design provisions did not reasonably consider one.