Subsidence monitoring and reservoir parameters inversion in gas field can provide important supporting information for safe production protection and mining planning. The SBAS-InSAR method was used to investigate the surface subsidence evolution characteristics of Sebei gas fields from February 2022 to September 2023. Furthermore, the InSAR monitoring results were used as the observation measurements to invert the reservoir center projection coordinates, depth, strike and other parameters of the gas fields through the Prolate spheroid source. The results show that the subsidence funnel occurs in the Tainan gas field, the Sebei No. 1 gas field and the Sebei No. 2 gas field, and the average annual subsidence rate is -124 ~ -109, -275 ~ -34, and -329 ~ -89 mm/a, respectively. Among them, the Sebei No. 1 gas field and the Sebei No. 2 gas field show a more significant surface subsidence phenomenon. And the surface of all three gas fields continues to sink rapidly. Further, the reservoir parameters were obtained by inversion of InSAR monitoring results. The results show that there is little difference between the deformation derived by using the optimal parameters and the observed deformation, and the spatial distribution is consistent, which indicates that it is feasible to invert the reservoir parameters of Sebei gas fields based on SBAS-InSAR deformation results.