Rolling shear, an inherent property of cross-laminated timber (CLT) due to the weak shear strength of cross layers, is always the determinant of load-bearing capacity for short-span CLT members subjected to out-of-plane bending. Many analytical models were developed to calculate the shear capacity of CLT members. Because of the difficulty to precisely model the complicated shear failure mechanisms, however, no model was universally accepted. This paper aims to study the appropriacy of the commonly used analytical models, namely, composite beam theory, shear analogy method, Gamma method, and simple beam theory, by tests and analytical calculations. A composite beam theory-based simplified method was proposed. Three-point loading tests for the short-span CLT panels with 3 and 5 layers were conducted, and the shear capacities of the test specimens were calculated using the above-mentioned analytical methods. Shear strength and modulus of cross layers of the test specimens, which were used as the inputs for calculating the shear capacities, were tested by modified planar shear method. By comparing the calculation results obtained from different analytical models and the test results as well, it can be concluded that: (1) composite beam theory, shear analogy method, and the proposed simplified method give almost the same calculation results, therefore, the proposed simplified method can be used as the replacement for the other models; (2) Gamma method is more appropriate for calculating the shear capacity in case the input shear strength is determined by planar shear test; (3) the simple beam theory that is used in CSA O86 provides significantly lower shear capacity predictions than those obtained by the other methods.