With the construction of large water-power engineering projects in alpine and canyon area, the stability of surrounding rock and stress deformation of lining under outer and inner water pressure becomes important. The excavation and supporting of surrounding rock, interaction between surrounding rock and lining, behavior of reinforced concrete were modeled. Then the stress and deformation of surrounding rock, reinforcement of lining material, stress and crack in reinforced concrete bifurcation structure were analyzed in the project of Pushihe pumped-storage power station. Calculation result of surrounding rock show that: tension stress zone mainly exist in connection region of main tunnel and bifurcation tunnel, plastic zone developed in connection region and region of main tunnel that adjacent to the bifurcation tunnel, bifurcation tunnel also has plastic zone. Calculation result of bifurcation structure show that: during error-free running work condition most region of the bifurcation structure exist tension stress, crack width is large; during overhaul work condition tension stress only exist in connection region of main tunnel and bifurcation tunnel, crack width is small.