An extensible settlement and incline measuring pipe for measuring settlement and horizontal displacement is composed of a settlement measuring pipe, an incline measuring pipe, a bottom cover and a joint pipe and is characterized in that the joint pipe is an freely-extensible connection sleeve pipe which is composed of two secondary pipes and a main pipe, the external walls of the two secondary pipes are provided with sliding grooves, and fixing pins arranged on the internal wall of the main pipe are snapped with the sliding grooves of the secondary pipes; and both ends of each secondary pipe are respectively connected with the screws of the settlement measuring pipe and the incline measuring pipe through locating pins. The extensible settlement and inline measuring pipe for measuring the settlement and the horizontal displacement can guarantee the settlement measuring pipe and the inline measuring pipe not to be deformed along with a large-displacement deformation of a soil body, thereby reducing the interaction force between the settlement measuring pipe of the inline measuring pipe and the surrounding soil body and reducing the probability of pipe blocking or pipe breaking; sediment and water can be effectively prevented from entering among every parts; and the freely-extensible joint pipe, the settlement measuring pipe and the incline measuring pipe can be mounted through direct screwing. Therefore, the extensible settlement and inline measuring pipe for measuring the settlement and the horizontal displacement is convenient to build in and mount, has low technical requirements for mounting personnel, can largely reduce the mounting time, and is easy to process and achieve.