In-situ stress is common in the exploration and development of oil reservoirs. Therefore, it is of great significance to study the propagation characteristics of borehole acoustic waves in fluid-saturated porous media under stress. Based on the acoustoelastic theory of fluid-saturated porous media, the field equation of fluid-saturated porous media with the conditions of confining pressure and pore pressure and the acoustic field formula of multipole source excitation in open hole are given. The influence of pore pressure and confining pressure on guided waves of multipole borehole acoustic field in a fluid-saturated porous media is investigated. The numerical results show that the phase velocity and excitation intensity of guided waves increase significantly when the confining pressure is applied. For a given confining pressure, the phase velocity of the guided waves decreases with increasing pore pressure. The excitation intensity of guided waves increases at low frequency and then decreases at high frequency with increasing pore pressure, except for that of Stoneley waves which decreases at whole frequency range. The results will help us insight into the influence of confining pressure and pore pressure on multipole source acoustic field in a borehole around fluid-saturated porous media.