To study the occurrence process, as well as the temporal and spatial evolution laws, of rockburst disasters, the roof deformation of continuous heading roadways during rockburst was studied through a physical similarity simulation test with a high similarity ratio and low strength. The deformation and failure evolution law of the roadway roof in the process of rockburst were analyzed by using detection systems, including a strain acquisition system and a high-power digital micro-imaging system. The results show that the rockburst of the roadway roof can be divided into four stages: equilibrium, debris ejection, stable failure, and complete failure stage. According to the stress state of a I–II composite crack, the theoretical buckling failure strength of the surrounding rock is determined as 1.43 times the tensile strength. The flexural failure strength of a vanadium-bearing shale is 1.29–1.76 times its compressive strength. With continuous advancement in the mining time, the internal expansion energy of the roadway roof-surrounding rock in the equilibrium stage continuously accumulates. The fracture network continuously increases, developing to the stable failure stage, with bending deformation, accompanied by continuous particle ejection until the cumulative stress in the failure stage increases, and the tensile state of the rock surrounding the roof expands radially into deep rock. A microscopic damage study in similar material demonstrated that the deformation of the roadway roof is non-uniform and uncoordinated. In the four stages, the storage deformation of the rock surrounding the roadway roof changes from small accumulation to continuous deformation, to the left (or deep rock). Finally, the roadway roof-surrounding rock becomes completely tensioned. The research results presented in this study provide a reference for the prediction and control of rockburst in practical engineering.