A large-scale indoor model test with water pressure is conducted in order to investigate the stress and deformation properties of reinforced concrete lining structures with circular cross-sections. After lining structure cracks, the stress and deformation of reinforcement in lining structures tend to decrease. Although the interaction force between lining structure and surrounding rock increases with the increase of water pressure, but the ratio of interaction force and water pressure decreases, which reveals that the load-bearing capacity of lining structures decreases, and surrounding rock gradually performs as the primary load-bearing body. The internal water pressure carried by lining structure is about 20%~40% of water pressure before cracking and less than 30% after cracking. Test results illustrate that surrounding rock and inner water seepage significantly influence the stress and deformation properties of lining structure, and inner water seepage is the main reason for the reduction of load-bearing capacity of lining structures.