Fire is one of the severe conditions in which structures may be exposed during their life span. When considering the structural elements, wall panels play a vital role during a fire scenario, since the spreading of the fire could be either controlled or accelerated due to the type of the wall partition. Standard fire tests are generally used to evaluate the fire performance of structural elements. However, the fire tests are expensive and time consuming to carry out. Therefore, numerical methods have been developed to evaluate the fire performance of these structural elements. In this study ABAQUS, finite element software was used to model the fire performance of lightweight foamed concrete and normal weight concrete wall panels. Experimental results of the previous studies were used to validate the models. Parametric studies were conducted using the developed models to evaluate the fire performance of two different types of wall panels under standard and hydrocarbon fire conditions. Lightweight foamed concrete wall panels exhibited better fire performance compared with the normal weight concrete wall panels. Three to five times of fire performance enhancement under insulation criteria could be obtained for wall panels of different thicknesses, by replacing normal weight concrete wall panels with lightweight foam concrete wall panels.