The invention belongs to the technical field of constructional engineering seismic energy dissipation, and provides a corrugated type replaceable energy dissipation device with the controllable performance. The device is mainly composed of a corrugated steel plate and two connecting plates. The corrugated steel plate is of an integrated structure, and the two ends of the corrugated steel plate arewelded to the connecting plates respectively, so that an I-shaped structure is formed. Out-plane buckling can be effectively avoided due to corrugations of the corrugated steel plate, the out-plane rigidity is improved, then, in-plane bearing capacity and rigidity degeneration are remarkably lowered, a hysteresis curve is full, and the energy dissipation capacity is improved. By changing the included angle between the connecting plates and the directions of corrugated lines, the bearing capacity and the rigidity of the corrugated steel plate can be adjusted, steel plate alignment is enhancedor weakened, and then the actual requirements of different projects for dampers can be precisely matched. Compared with the prior art, the manufacturing technology is simple, the steel plate performance is stable, installation is convenient, the device has the advantages that the energy dissipation capacity is high, the bearing capacity and rigidity are controllable, after an earthquake, the device can be replaced, and therefore the using function of the structure can be rapidly recovered, and the device can be used for improving the structure post-earthquake function restorability.