Layered rock slope exists widely. Because of its special slope structure, it is prone to bending deformation and toppling failure, which is a serious threat to engineering construction and safety operation. At present, the research of layered rock slope still has great innovation potential. During the construction of Wudongde Hydropower Station on Jinsha River, safety and stability problems such as slope geological structure development, face rock unloading and relaxation, and even slip and large deformation were encountered. Through field exploration, it is found that the rock and soil stratification of the slope on both sides of Wudongde Hydropower Station is highly obvious. At present, there is a lack of research on-site long-term displacement monitoring of layered rock high-steep slope, especially for layered slope in complex hydrogeology and construction environment. In order to strengthen the research on the deformation and stability of layered rock slope, this paper analyzes the measured displacement data of Wudongde hydropower station slope, and establishes three-dimensional geological finite element model with the help of numerical simulation software. The stability of the slope is calculated by combining the finite difference method and the strength reduction method. Finally, the evolution mechanism of the deformation of the layered rock slope is explained according to the geological structure characteristics. The main conclusions of this paper are as follows: the layered slope in the dam reservoir area is prone to deformation under the combined action of long-term construction disturbance and fissure water seepage, and the construction disturbance has a strong influence on the artificial excavation area below 1070 m, and the maximum rock mass deformation and surface displacement in the artificial excavation area of the slope reach 92.2 mm and 312.5 mm, respectively. However, the influence of construction disturbance on the natural mountain above 1070 m is limited, the valley deformation of the natural mountain on the left bank of the reservoir area is higher than that on the right bank, and the cumulative deformation is still less than 20 mm. The influence of seepage on the displacement of the area with higher elevation at the top of the slope is more obvious, and the influence of excavation and other disturbances on the displacement of the artificial excavation area with lower elevation is more obvious. The deformation of the river valley in the water cushion pond behind the dam increases slowly, and the change trend of the field deformation data is mostly consistent with that of the numerical calculation. The horizontal shrinkage of the mountains on both sides shows a contraction trend on the whole, and the maximum horizontal shrinkage calculated by numerical simulation is close to 20 mm, which is located at the elevation of 990 m.