Contemporary life streams, more often than ever, impose the necessity for construction of new underground structures in the vicinity of existing tunnels, with an aim to accommodate transportation systems and utility networks. A previously uninvestigated case, in which a newly-constructed tunnel opening is closely positioned behind an existing tunnel, referred to as the tunnel–cavity configuration, has been considered in this study. An exact analytical solution is derived considering a pair of parallel circular cylindrical structures of infinite length, with the horizontal alignment, embedded in a boundless homogeneous, isotropic, elastic medium and excited by time-harmonic plane SV-waves under the plane-strain conditions. The Helmholtz decomposition theorem, the wave functions expansion method, the translational addition theorem for bi-cylindrical coordinates, and the pertinent boundary conditions are jointly employed in order to develop a closed-form solution of the corresponding boundary value problem. The primary goal of the present study is to examine the increase in dynamic stresses at an existing tunnel structure due to the presence of a closely driven unlined cavity, as well as in a localized region around the tunnel (at the position of the cavity in close proximity), under incident SV-waves. A new quantity called dynamic stress alteration factor is introduced and the aspect of the minimum seismically safe distance between the two structures is particularly considered.