The invention discloses a test device simulating vertical shaft excavation. The test device is characterized in that the test device comprises a support frame, a retraction protection cylinder, an excavation telescopic cylinder and a drive mechanism; the retraction protection cylinder has an open end on the lower end and a closed end on the upper end; the upper end of the support frame extends into the retraction protection cylinder from the open end of the retraction protection cylinder; the upper end of the support frame is fixedly connected with the retraction protection cylinder; the drive mechanism is connected with the excavation telescopic cylinder in a drive manner; the upper end of the excavation telescopic cylinder is sheathed in the retraction protection cylinder and can carry out up and down reciprocating movement in the retraction protection cylinder; and the outer wall of the excavation telescopic cylinder matches the inner wall of the retraction protection cylinder in a seal manner. According to the technical scheme of the invention, physical analog simulation can be carried out on a vertical shaft excavation process; displacement changes of the shaft can be acquired when vertical shaft excavation is carried out; and a reliable basis is provided for the actual excavation construction of the vertical shaft.