Abstract: To realize the resilience of structure under earthquake and solve the problem of large residual deformation of energy dissipation dampers, a prefabricated self-centering energy dissipation brace assembled with U-shaped steel plates and pre-compressive disc springs (U-SCEB) has been developed. This innovative brace comprises a pre-compressive disc spring self-centering system and a U-shaped steel plate energy dissipation system, assembled in parallel. Compared to previous self-centering energy dissipation braces with combined disc springs, the U-SCEB has better deformation capacity and can be fully assembled on-site, facilitating the replacement of damaged U-plates after an earthquake. The configuration and working principle of the U-SCEB were described, and its restoring force model was established. The self-centering capability of the combined disc springs and the energy dissipation capability of the U-shaped steel plates were investigated by the quasi-static cyclic loading test, and the hysteretic behavior of the U-SCEB was further studied by the quasi-static loading test. Finally, the finite element model of the brace was established, and the influence of different design parameters on the hysteretic performance of the U-SCEB was analyzed. The results show that the configuration of the brace is simple, and the self-centering principle is clear. The brace can be assembled on-site, and the components are replaceable. The restoring force model of the brace presents a typical flag shape. Under the quasi-static cyclic loading, damage to the brace is mainly manifested as plastic damage at the connection between the flat and bent sections of the U-shaped steel plate, and the hysteresis curve exhibits stable energy dissipation, excellent self-centering ability, and significant deformation capacity. To ensure the excellent self-centering capacity of the brace, the pre-compressive force of the disc springs should be larger than or equal to the peak strength of the U-shaped steel plates.