Shaft safety is an essential guarantee for the safe mining of underground coal. The most economical way of the existing shaft deformation monitoring methods is to carry out regular artificial measurement, which requires many surveyors to go down the shaft to measure. This method of operation is cumbersome, the measurement time is long, and artificiality significantly affects accuracy. To make the shaft deformation measurement that does not require humans to go down the shaft, simplify the process, shorten the time, and have a higher measuring accuracy. This paper developed a multi-sensors fusion shaft wall deformation monitoring system. Three experiments were carried out to test this monitoring system's accuracy: a laboratory experiment, a simulated experiment, and a real shaft experiment. Results showed that the maximum mean absolute errors of laboratory, simulated, and real shaft experiments are 0.06 cm, 0.30 cm, and 0.48 cm, respectively. Compared with the artificial measurement, the system measurement reduces the measuring time by 48% and simplifies the measuring process from 12 to 3 steps. These results indicate that the monitoring system has centimeter-level accuracy, shortens the measuring time, simplifies the measuring process, and makes the shaft deformation measurement not require humans to go down the shaft.