The paper deals with the study of the deformation, strength, and reservoir properties of rocks under various stress conditions, typical of great depths. The effect of all-round compression causes a change in the elastic, plastic, and strength characteristics of rocks. Some features of fracture formation and development in inhomogeneous solids under tension and compression were determined. The irreversible deformation mechanism of rocks under an uneven volume stress was considered. The irreversible deformation of rocks combines two types of deformation-intergranular slip, which produces the development of micro-fracturing, and intracrystalline slip, which mainly develops only at high pressure. The typical types of rock damage for uneven triaxial compression (transcrystalline and intercrystalline damage) were investigated. The phenomenon of loosening and increasing the volume as a result of irreversible deformations is mainly caused by the simultaneous formation of intergranular micro-cracks and micro-shifts along grain boundaries. As a result of these micro-dislocation combinations, macroscopic shift planes are formed, followed by irreversible deformation. On the surfaces of deformed samples, slip lines often appear; these are the traces of these macroscopic shift planes. Rock samples deformed due to high pressure are presented. The slip plane traces are clearly visible on the samples' surfaces. It has been stated that under conditions typical of 8-10 km depths, irreversible deformation occurs with decompaction of their structure, increasing the coefficients of porosity and permeability. The effect of rocks deconsolidation caused by stress can be so significant, that in some cases may even increase the volume of voids by 1.5-2 times. The processes of dissolution and leaching of chemically unstable elements are of great importance in determining the filtration capacity and reservoir properties of deep-lying rocks, affected by irreversible deformation changes. Different dependences of volume growth, decompaction intensity coefficient, and permeability coefficient on the overall compression under uneven triaxial stress-which was based on the data of sandstone and marble-have been illustrated. The volume growth is quantitatively determined with the help of the decompaction intensity coefficient, and it is correlated with the collector and filtration capacity of rocks.