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In this paper, computational analysis of characteristics of deformation and internal forces in the loading system due to deep foundation pit excavation is conducted by establishing two-dimensional finite element model of excavation system including subsoil, and elastic bracing diaphragm based on FEM algorithm. Through computational studies, it is shown that the location of maximum horizontal displacement varies from soil area under pit floor to that above during excavation. And the deeper excavation arises the more ground horizontal displacement, higher active earth pressure as well as more obvious phenomenon of stress concentration and bottom uplift in pit floor. Furthermore, it is emphasized that the deformation control can be intensified by increasing the stiffness of diaphragm wall, moreover the change ratio of intensification with increased stiffness presents decaying tendency. On the basis of the computation analysis, the drawn conclusion remarks can give referable experience for related engineering practice and design.