As urbanization advances rapidly, the development of subterranean spaces plays a crucial role in alleviating the strain on land resources, yet it concurrently poses challenges to the safety of surrounding underground facilities. Numerical models of excavation pits were constructed using the finite difference method and a discrete-continuous coupling approach. The finite difference model was employed to investigate the impact of subway dynamic loads on the settlement and deformation of adjacent power pipelines during the excavation process. The discrete-continuous coupling numerical model facilitated the simulation of the interaction between pipelines and the surrounding discrete soil mass, thereby analyzing the stress transfer mechanism during the excavation of the pit. The findings indicate that as the number of excavation layers increases, the displacement of the underground power pipelines in both vertical and horizontal directions exhibits a pronounced trend. Vertically, the pipelines predominantly settle within the pit area while relatively rising outside of it. Horizontally, the displacement of the pipelines towards the pit intensifies with additional excavation layers. When the deviatoric stress amplitude of the subway dynamic load increases from 10 kPa to 30 kPa, the final settlement of the underground power pipelines reaches 3.36 cm, 5.60 cm, and 7. 44 cm, respectively, showing an upward trend with an increase in contact force and more significant asymmetry in its distribution. The influence of pit excavation and subway dynamic loads on underground power pipelines is substantial, potentially heightening the risk of vulnerable areas within the pipelines.