To describe the effect of confining pressure on the mechanical responses of N15 propellant, a constitutive model considering the confining pressure effect was first established for N15 propellant based on the elastic-viscoelastic correspondence principle. Then, the mechanical properties of N15 solid propellant under different confining pressures were obtained using confining pressure test system, and the obtained results indicate that the initial modulus of propellant did not change with confining pressure, but the maximum tensile strength, rupture strength, the maximum elongation, and elongation at break increased with increasing confining pressure. In conjunction with propellants’ mesoscopic structure and cross-section analysis, the mechanical mechanism of confining pressure effect on propellant was initially disclosed. Due to confining pressure, the particle dewetting inside the propellant was reduced, the hole propagation was delayed, and crack extension inhibited germination, proving that confining pressure has a strengthening impact on the propellant. Finally, assuming that the model parameters were dependent on pressure, the model parameters acquisition and validation were conducted. The results demonstrated that constitutive model can describe confining pressure influence on the mechanical properties of N15 propellant accurately.