A non-linear finite element analysis was carried out to investigate the ultimate behavior of reinforced concrete wall panels with openings subjected to in-plane uniform vertical loads. The loads were applied at an eccentricity of one-sixth of the panel thickness, representingan accidental eccentricity during construction. The panels were analyzed in one-way and two-way actions for various locations and proportions of the opening. The comparison between the analytical results shows that the provision of openings diminishes the axial strength of wall panels. The extent of the effect is substantially dependent on the supportconditions. The application of the empirical fonnulas developed by Saheb and Desayi for the strength prediction of wall panels with openings, to the range of panels investigated yields adequate results for both one-way and two-way panels provided with typical window or door openings.