As the aim of improving the utilization ratio of SMAs in SMA-rubber seismic isolation bearings, several different SMA-rubber seismic isolation bearings were designed, and energy dissipation experiments were done. The factors which affect the level stiffness, energy dissipation and equivalent damping ratio of SMA-rubber seismic isolation bearings including level displacement amplitude, level loading frequency and vertical load were studied. Result showed that the new SMA-rubber seismic isolation bearings have better hysteresis and energy dissipation capabilities. It provided the base to optimize the SMA-rubber seismic isolation bearings.