The behavior of center columns in shallow-buried underground subway station structures resembles that of high-rise buildings. In both cases, these columns experience significant vertical loads during earthquake events and are susceptible to brittle failure due to inadequate deformation capacity. In this study, the design concept of split columns, commonly employed in high-rise structures, is adapted for application in a two-story, two-span subway station. Initially, a comparative analysis was conducted using quasi-static pushover analysis to assess the horizontal deformation characteristics of traditional and split columns under high axial loads. Subsequently, a comprehensive quasi-static pushover analysis model encompassing the soil–structure interaction was formulated. This model was employed to investigate differences in seismic performance between traditional and innovative underground structures, considering internal forces, deformation capacity, and plastic damage of crucial elements. The analysis results demonstrate that the incorporation of split columns in a two-story, two-span subway station enhances the overall seismic performance of the structure. This enhancement arises from the fact that split columns mitigate excessive shear forces while effectively utilizing their vertical support and horizontal deformation capacities.