Abstract Steel beams with corrugated webs are widely used in construction due to their high strength‐to‐weight ratio and structural efficiency. However, accurately estimating their shear capacity remains a challenge due to the complex interaction of material properties, geometric features, and corrugation effects. While existing design codes, such as the Eurocode, provide methods for shear capacity estimation, their predictions often exhibit significant deviations from experimental results, highlighting the need for more reliable and comprehensive models. This study aims to address this gap by proposing a novel empirical model that incorporates nonlinear interactions among material properties, section geometry, and corrugation characteristics to estimate the shear capacity of sinusoidal web‐corrugated steel beams. A dataset comprising 69 full‐scale experimental tests is collected and analyzed to validate the proposed model. The model's accuracy is assessed by comparing its performance against five existing approaches, including the Eurocode method. The results demonstrated that the proposed model significantly outperformed existing approaches, reducing normalized root mean square error and normalized mean absolute error by approximately 48% and 49%, respectively. Additionally, it enhanced the coefficient of determination by 9% and the A20 index by 59% on average.