Taking Changfeng station of Wuhan Metro Line Ⅶ as an example, this article shows that the process of ultra-deep excavation have many risks by theoretical analysis of Fault Tree, such as leaking joints, longitudinal instability, pit deformation, gushing water and sand, surface subsidence around the base hang basement uplift and so on. The article analyses the monitoring data during the excavation of Changfeng station in May including the inclinometer of underground continuous wall, soil subsidence, post settlement and so on. The analysis results show that large underground continuous wall inclinometer, upright settlement, underground continuous wall seepage etc. are the signs of large pit deformation, as well as common risks of ultra-deep excavation process. So we should erect steel braces timely, grading excavation, strengthen monitoring and provide rainfall timely to control them. By timely warning and taking appropriate security measures, the excavation pit risk of Changfeng station was controlled effectively, and the main structure of Changfeng station was completed successful. The success of early warning and control of Changfeng station excavation risks can provide recommendations for the Wuhan soft soil excavation.