This paper analyzed the stress-deformation behavior of cut-off wall for concrete faced rockfill dam on deep overburden foundation by using three-dimensional nonlinear finite element method. The numerical model of stress-deformation of concrete faced rockfill dam on deep overburden foundation was established through considering effect. Based on the effect of seepage on stress-deformation behavior of the cut-off wall, it analyzed the influence of construction sequence and depth of cut-off wall on wall body. The result shows that the seepage effect cause the increase of 56.47% deformation along the direction of river, and the maximum tensile stress and compressive stress increase 22.47% and 21.74% respectively. The calculation result of stress-deformation of the cut-off wall is unsafe without considering the seepage effect. The later construction sequence of the wall and shorter depth for the cut-off wall can improve its stress-deformation behavior.The less the depth of suspended cut-off wall, the behavior of stress-deformation approaches safety and stability.