In order to analyze the stability of surrounding rock and the safety of supporting structure of deep-buried long water conveyance tunnels passing through fault fracture zones under open tunnel boring machine (TBM) construction, a three-dimensional dynamic construction simulation model of seepage-stress coupling for the north line of Dongzhuang Water Conservancy Hub during excavation was established by ABAQUS. The stability of the surrounding rock at the fault fracture zone during tunnel excavation and support construction was studied, and the mechanical characteristics of the support structure and its changing rules were investigated. The results showed that the maximum porosity of the surrounding rock around the tunnel increased by 0.88% compared to its initial state due to unloading effects, while the maximum permeability coefficient increased by 2.59% compared to its initial state. The pore water pressure of the surrounding rock decreased with the construction process of the excavation and support, then leveled off, and finally rose back until it stabilized. The plastic zone of the surrounding rock appeared in the radial range of 1 m, and the extreme value of the equivalent plastic strain was present at the waistline of the surrounding rock. The anchor stress reached its peak value as soon as the lining was supported, and its maximum value was 182.90 MPa. Both the inner and outer edges of the lining were under pressure, and the circumferential stress value of the lining first reached a maximum value, and then slightly decreased until it stabilized with the construction process of the excavation and support, which fell in the range of 6.66-11.92 MPa. The deformation of the lining as a whole showed an inward contraction, and its deformation decreased gradually from the top and bottom arches to the waistline, and its value was in the range of 0.67-1.35 mm. With the increase of the drainage, the maximum radial shrinkage value of the surrounding rock gradually increased, but the reduction factor of water pressure outside the lining gradually decreased. The results of the study can provide a reference basis for the preliminary structural design, safe construction and operation of TBM tunnels passing through fault fracture zones.