Nowadays, one of the fastest growing technique is an Insulated Concrete Form (ICF). It has advantages like cost-effective, less maintenance, soundproof, energy-efficient, waterproof and disaster-resistant. ICF wall panels are made by interlocking Fibre Cement Board (FCB) sheet which poured in placed concrete. In this study, the behaviour of the ICF wall panel under axial compression is examined with experimental and analytical methods. ICF wall panels cast with various thickness and dense FCB are tested under axial compression. ICF panels with 1.2gm3/cm dense FCB with changing width of 6mm and 10mm were casted for experimental analysis. The experiments were carried out in an universal testing machine with the capacity of 600 kN. The maximum peak load of 540 kN is observed in FCB of 10mm thick and the maximum displacement of 13mm is observed in FCB80 at the peak load. An analytical investigation is carried with Euler’s crippling load equation and an average variation of 12% is observed between analytical and experimental results. It is concluded that the ICF system of construction provides desirable plastic behaviour against axial compressive loading. Hence ICF is recommended for construction to get the maximum benefits of the wall while it reaches ultimate strain.