Universal-rod steel-shuttering jumbo (URSSJ), as a key construction equipment for tailrace tunnel lining of underground plant in Pubugou hydropower station, has a good reusability in structure but must satisfy the requirements of intensity, rigidity and supporting stability. Due to complicated working conditions of the URSSJ, it is difficult to calculate stress and strain of the URSSJ based on traditional design method. In this paper, finite element technology is introduced into the analysis of the URSSJ. The approach of this work includes steps of (1) analyzing the structure, working conditions and load characteristics of the URSSJ, (2) modeling the hinge system by meshing, loading and boundary constraints, and (3) computing stress and strain of its major components under the most dangerous condition. The results verify design feasibility and structural reliability of the URSSJ.