Ventilated façades can help to reduce summer building thermal loads and, therefore, energy consumption due to air-conditioning systems thanks to the combined effect of the solar radiation reflection and the natural or forced ventilation into the cavity. The evaluation of ventilated façades behavior and performance is complex and requires a complete thermo-fluid dynamic analysis. In this study, a computational fluid dynamic (CFD) methodology has been developed for the complete assessment of the energy performance of a prefabricated timber–concrete composite ventilated façade module in different operating conditions. Global numerical results are presented as well as local ones in terms of heat flux, air velocity, and temperature inside the façade cavity. The results show the dependency of envelope efficiency on solar radiation, the benefits that natural convection brings on potential energy savings and the importance of designing an optimized façade geometry. The results concerning the façade behavior have been thoroughly compared with International Standards, showing the good accuracy of the model with respect to these well-known procedures. This comparison allowed also to highlight the International Standards procedures limits in evaluating the ventilated façade behavior with the necessary level of detail, with the risk of leading to design faults.