The stratigraphic conditions in the study area are characterized by "hard rock" (argillaceous siltstone, lithic sandstone and "soft rock" mudstone interbedded, forming obvious soft - hard alternating strata, which makes the force and deformation of the shaft particularly complicated. The construction process of shaft excavation is studied by Flac3D numerical simulation research, the stress and deformation characteristics of circular diaphragm wall and lining are analyzed in detail, which found that: 1) In the process of excavation, when excavation depth above or in a "hard rock", diaphragm wall produces an inverse bending point at the position of the hard and soft interface and deforms outward from the pit, when the "hard rock" in the pit is excavated, diaphragm wall produces horizontal displacement into the pit. 2) The deformation law of the circumference stress and horizontal displacement of the diaphragm wall is "E" type. The maximum circumference stress and horizontal displacement of the diaphragm wall always concentrate in the depth range of "soft rock", while the minimum is in the depth range of "hard rock". The maximum bending moment of the diaphragm wall always appears near the interface depth of soft and hard strata. 3) The circumference stress and horizontal displacement of the inner lining increase in a "step" pattern, but decrease at the depth of "hard rock". The lining is obviously affected by the uplift of the rock mass in the pit, and the maximum bending moment appears at the bottom of the lining, while the displacement is generated outside the pit.