A conveyance water shield tunnel under the Yangtze River, which was designed for the Jiangsu Changshu Power Plant Co., Ltd., was damaged due to water leakage and submersion. In order to complete the engineering, the shield tunnel should be repaired, and the connection between the shield and standpipes should be completed. Therefore, a deep excavation recovery program was designed. According to the excavation design, the distance between the axes of the two tunnels is only 20.8 m, but the depth of excavation reaches 15.1 m. Because of the small distance between the deep excavation and the adjacent west line tunnel, the new excavation in the east line tunnel might have large effects on the west line tunnel, and the environmental effects on the west tunnel due to the excavation should be evaluated. Simulations using 3D and 2D finite element methods were performed. The variations in the loads and lateral deformations on the retaining structures due to earth pressure differences outside and inside the foundation pit were analyzed in detail. The environmental effects on the west line tunnel due to deep excavation were evaluated. The 2D and 3D numerical simulation results were compared. The numerical simulation results agree with practical engineering and are applicable and reliable.