Xiazanri Slope is a large-scale deposit slope located at the left bank of Liyuan hydropower station in Southwest China. The construction of the water intake there will form a very high excavation slope. Possible failure modes are analyzed based on geological conditions. Numerical simulation is conducted in FLAC3D to obtain the deformation and failure characteristics of slope under excavation and normal water table conditions. Strength reduction method is used to obtain factor of safety. Results show the overall deposit is stable and attention should be paid to local parts.