The invention relates to a reinforced concrete shear wall with a positioning prefabricated member inside and a construction method of the reinforced concrete shear wall. The construction method includes: manufacturing the prefabricated member; arranging the prefabricated member on a floor slab structure; making positioning ladder rebars; binding rebars; mounting the prefabricated member; mounting steel formworks; setting up a steel formwork inclined strut. During constructing the reinforced concrete shear wall, vertical ladder rebars and horizontal ladder rebars are adopted as a positioning supporting frame for rebar binding, and the positioning prefabricated member is clamped in horizontally-vertically-distributed rebars, so that thickness of a protection layer is guaranteed and connection of rebar nets is enhanced; the assembly steel formworks are arranged on two sides of the rebar nets, oppositely-puling threaded rods penetrate connecting steel pipes to be fastened on embedded members of the steel formwork inclined strut and the floor slab structure through screws, and concrete is poured to form a shear wall structure. By using the construction method, construction site order and construction efficiency are improved, related measures guarantee construction quality of the shear wall, rebar positioning accuracy and thickness accuracy of the protection layer are improved remarkably, and the construction method has good technical and economic benefit.