A finite element model for theoretical analysis was established to study the effect of slurry pressure on soil deformation control during pipe-jacking construction. Based on the comparison of measured data and finite element results, the influences of pore pressure and soil deformation during the construction process were discussed. The soil disturbance around pipe-jacking with different slurry pressures was analyzed, based on which the concept of pore pressure change rate was proposed. Taking the results of soil deformation and disturbance analysis into consideration, it is suggested that in practical engineering, the slurry pressure should be 1.1 times the overlying earth pressure, which has less impacts on the surrounding environment. This conclusion can provide reference for future similar pipe-jacking constructions.