The soft soil creep (SSC) model was adopted to simulate the whole process of a deep foundation pit with different construction conditions. Comparisons of the effect of different construction technologies on the deformation of foundation pit and the surroundings were made. The results show that the deformation features of the foundation pit under both construction technologies are similar. The top-down channel-type construction technology is more effective on controlling the deformation of the enclosure structures, and has less impact on the surrounding by decreasing the ground settlement, the lateral displacement of soil outside the pit and the upheaval mount of soil at the pit bottom. While considering the train load, with top-down channel-type construction technology, the deformation of the railway subgrade is safe.