At present, jet-grouted horizontal waterproof curtain reinforcement has become an essential method for deep foundation pit groundwater control. However, there is still a lack of an effective theoretical calculation method for horizontal waterproof curtain reinforcement, and there is little research on the seepage laws of foundation pits under different horizontal waterproof curtain conditions. Based on Darcy’s seepage theory, theoretical analysis models of deep foundation pit seepage were established considering the effect of a horizontal curtain in a highly permeable formation. Through the established models, the calculation method of the water inflow and the water pressure under the condition of a horizontal curtain was derived. Then through indoor tests, the reliability of the theoretical calculation method was verified. Furthermore, the established theoretical calculation method is used to analyze the influence of various factors on the water inflow and the water pressure, such as the ratio of hydraulic conductivity of the horizontal curtain to surrounding soil, thickness, and reinforcement position of the horizontal curtain. It is found that the hydraulic conductivity ratio has the most significant influence on the seepage characteristics of the foundation pit. Finally, the design method was applied to an example of the horizontal waterproof curtain of the foundation pit, which is located at Juyuanzhou Station in Fuzhou (China). The water inflow per unit area is 0.36 m3/d in the foundation pit, and this implies that the design method of the horizontal waterproof curtain applied for the excavation case is good and meets the requirements of design and safety.