It is of significance for pile foundation design and construction to predict the penetration depth accurately of the displacement pile under a fixed pressure. A new type cone penetrometer and corresponding exploration methods are developed through increasing weight of the device, enhancing the strength of probing rod and probe, and embedding a new function on measuring the total penetration resistance. Not only applied appropriately to various strata except for pebble bed, functions such as the total penetration resistance determination, soil layer classification and soil compression modulus and dynamic-static friction ratio calculation are also provided. Data of total penetration resistance, static point resistance and side friction are measured with the new type cone penetrometer, a new coefficient of dynamic-static friction ratio is introduced and employed to calculate the dynamic side friction, a new estimation method, with which the influence of dynamic side friction is take into account, on penetration depth evaluation of the displacement pile is established and proposed subsequently. Validity of the new method is verified by means of case study of pile engineering and the results indicate, for its high accuracy, the method proposed is of practice and theoretical significance, as well as valuable for popularization.