Abstract: Taking a metro station next to the building foundation pit construction in Nanchang City as the research background, a finite element model is established to analyze the deformation of the stratum around metro station during the foundation pit excavation. The research results show that during the excavation of the foundation pit, the horizontal displacement in the surrounding stratum is moving to the internal area of the foundation pit, while the vertical displacement mainly occurs at the bottom of the foundation pit, appearing as a bulge at the pit bottom, and the displacement value gradually increases with the excavation of the foundation pit. Under the effect of excavation and unloading, the station structure in the horizontal direction moves horizontally toward the foundation pit, and the floating deformation occurs in vertical direction. The maximum horizontal displacement value is 0.43 mm, and the maximum floating displacement value is 1.25 mm. Enclosing the pit surrounding with envelope structure effectively inhibits the soil stress change outside the pit caused by the pit internal soil unloading, and the maximum horizontal displacement of excavation from the periphery to the center is reduced by 38.80% compared to that of the excavation from the center to the periphery, the maximum vertical displacement value is reduced by 20.23%.