In order to avoid the delamination of traditional tubular composite materials and reduce its woven cost, on an ordinary loom, the three-dimensional (3D) tubular woven fabrics were woven with basalt filament tows, and then the 3D tubular woven composites were prepared with epoxy resin by a hand layup process. The wall thickness of the 3D tubular woven composite was thin, and was only 2 mm thick. Through experiments and finite element method (FEM) simulation, the axial compression properties of the material were analyzed. The results show that the material 2 mm thick has good axial compression performance, the maximum load value of the experiment is 10,578 N, and the maximum load value of the finite element simulation is 11,285 N. The error between the two is 6.68%, indicating that the experiment and simulation have a good consistency. The failure mode of the material is also analyzed through finite element method simulation in the paper, thus revealing the failure stress propagation, local stress concentration, and failure morphology of the material. It provides an effective reference for the design and application of the 3D tubular woven composite.