In order to explore the effect of dry-wet cycles in acidic environment on the physical and mechanical properties of limestone, and to evaluate the long-term stability of limestone rock mass in this environment, the limestone of the Jinfo Mountain of the Nanchuan District in Chongqing was selected as research subject. The limestone specimens were exposed to dry-wet cycles under neutral and acidic environments. The specimens were treated through mass loss test, hygroscopic property test, uniaxial compression test and tensile test. The results show that under the condition of the same pH of the soaking solution, with the increase of the times of dry-wet cycles, the mass loss rate and saturation water absorption rate of specimens increase; the tensile strength, uniaxial compressive strength and elastic modulus gradually decrease; with the same times of dry-wet cycles, the lower the pH of the soaking solution leads to the more serious the loss of physical and mechanical properties. Based on the experimental results, the damage theory, Weibull distribution, Lemaitre strain equivalence hypothesis and Mohr-Coulomb (M-C) strength criterion, the damage constitutive model of limestone by using a quadratic function to characterize the nonlinear features of the compaction stage of stress-strain curve was established and validated.