The shield tunnel for water conveyance is usually composed of two-layer liner tube. The outer layer is fabricated reinforced concrete structure consisting of the sectors of liner tube which are connected by binder bolt, and the inner layer is liner tube of depositing reinforced concrete. Under the action of inner and outer water pressure, there will be some discontinuous deformation on the crack sections and the interface between liner and soil, which bring great difficulty to the establishment of the model. Based on the interface stress element theory of discontinuous mechanics, this paper has proposed a computing model of shield tunnel for water conveyance in accordance with the project of transporting water through Yellow River for diverting water from the South to the North. This model can reflect the discontinuous deformation characteristics of various cracks. The effects of binder bolt and reinforced bar can also be well simulated. The theoretical analysis and practical computation results show that the model suggested in this paper is effective in simulating and computing, thus being regarded as an ideal model of shield tunnel for water conveyance.