Efficient, high-precision, and automatic measurement of tunnel structural changes is the key to ensuring the safe operation of subways. Conventional manual, static, and discrete measurements cannot meet the requirements of rapid and full-section detection in subway construction and operation. Mobile laser scanning technology is the primary method for tunnel detection. Herein, we propose a method to calculate shield tunnel displacements of a full cross-section tunnel. The point cloud data, obtained via a mobile tunnel deformation detection system, were fitted, projected, and interpolated to generate an orthophoto image. Combined with the cumulative characteristics of the tunnel gray gradient, the longitudinal ring seam of the tunnel was identified, while the Canny algorithm and Hough line detection algorithm identified the transverse seam. The symmetrical vertical foot method and cross-section superposition analysis were used to calculate the circumferential and radial displacements, respectively. The proposed displacement calculation method achieves automatic recognition of a ring seam, reduces human–computer interaction, and is fast, intelligent, and accurate. Furthermore, the description of the tunnel deformation location and deformation amount is more quantitative and specific. These results confirm the significance of shield tunnel displacement monitoring based on mobile monitoring systems in tunnel disease monitoring.