This paper studies the influence of large-size cave on pressure transient characteristics in fracture-caved carbonate gas reservoirs (FCCGR). With the rapid increase of energy demand, the exploration and development of unconventional oil and gas becomes more and more important. In recent years, many FCCGR have been discovered in western China and contribute significantly to Chinese gas reserves. However, with the presence of large-size cave, FCCGR have complex pore structures and strong heterogeneity. Traditional pressure transient analysis models cannot describe the gas flow accurately. This paper develops a novel pressure transient analysis model for FCCGR by coupling the fluctuating pressure and minor energy loss. Based on the solutions, the typical curves are plotted to analyze the pressure transient characteristics. It is found that the flow process can be subdivided into six stages, including the following: (I) wellbore storage, (II) first transition stage, (III) cave storage, (IV) second transition stage, (V) interporosity flow, and (VI) radial flow. The findings indicate that a concave is added, and the wellbore storage occurs earlier due to the existence of cave. Then, the influences of key parameters are studied. The pressure propagation coefficient and cave volume factor influence the stages I, II, III, and IV. When pressure propagation coefficient increases, the wellbore storage becomes larger and cave storage becomes smaller. The first concave moves to upper right. When cave volume factor increases, the wellbore storage occurs earlier and the curves move left in stage I. Interporosity flow factor and storage ratio influence the location and depth of the second concave. Finally, a field gas well is interpreted by using the proposed model, which verifies the reliability and correctness of the model. The findings of this study can help to better understand the influence of large-size cave on pressure transient characteristics. In addition, it can help engineers invert the cave volume, which is of great significance for the development in FCCGR.