As the laws of structure deformation and structural stress variation under freezing construction around high-rise buildings are not clear and no engineering experience can be referred to, freezing method construction in this situation is paired with huge safety risks. In this paper, freezing construction was successfully carried out around the main shaft tower in Chensilou Coal Mine by taking the following protective measures: symmetrical drilling, local freezing and hot water circulation. The elevation of the shaft tower foundation is continuously measured during the process of drilling, frost heaving and thaw settlement (hereinafter referred to as the DHS process). Benefiting from these protective measures, the maximum inclination value (−0.406 mm/m) of the shaft tower is controlled at well below the allowable value. The observation data informed the settlement and inclination of the tower foundation during the DHS process. A numerical model of the shaft tower is further established based on the observation data to reveal the tower structure’s law of stress variation during the DHS process. In addition, the fitting equation between the tower inclination value and the structural stress is obtained, which can provide a reference for freezing construction of similar high-rise buildings.