In order to enhance the industrialization level and repairability of prefabricated structures, a novel fully precast reinforced concrete (RC) inter-column replaceable energy-consuming joint (RECJ) was proposed and applied to the ground floor columns of frame structures in this paper. A pseudo-static reciprocating loading test was carried out on two precast column specimens connected by RECJ and a cast in situ column comparison specimen. After loading the long tenon joint specimen to an interlayer displacement angle of 1/25, the damaged connecting plate was replaced and loaded under the same conditions. The specimens were then loaded under the same conditions. The performance analysis includes the failure mode, hysteresis curve, skeleton curve characteristics, degradation characteristic of stiffness and bearing capacity, ductility and the energy dissipation capacity as well as the strain changes of the connecting steel plate and the steel bar in the column. The results showed that the damage of the bottom column of the new fully precast frame are mainly concentrated on the connecting steel plate of RECJ, while other parts of the specimen remain largely elastic. In addition, the hysteresis curve of RECJ exhibits a full and plump shape, which indicates significant improvements in energy dissipation, ductility and stiffness degradation compared to the cast in situ comparison column. Overall, the specimens with longer tenon lengths outperform those with shorter tenons, which shows better seismic performance and equivalent initial stiffness and bearing capacity to the cast in situ column. RECJ can quickly restore seismic performance of the structure by replacing damaged connection plates during major earthquakes. The stress mechanism of RECJ was analyzed, and the bending bearing capacity formula and angular deformation of RECJ during the yield and peak stages were proposed. The skeleton curve model was obtained based on the derived formula.