Incremental dynamic analysis (IDA) is an effective method for evaluation of seismic performance of building structures. Based on the principle and characteristics of IDA method, evaluation steps of investigating deformation and ductility of steel reinforced concrete (SRC) structures under increasing earthquake loading are put forward. Limit states of different performance levels for structures are connected with IDA curve slope whose decrease amplitude is determined according to current test data. Based on the proposed constitutive model of steel and concrete, a regular steel reinforced concrete frame structure is analyzed with IDA method, and distribution of story drift angle and ductility for four performance levels are investigated. The calculation results show that the SRC frame has better seismic performance when subjected to random earthquake waves.