Abstract: The exploitation and utilization of underground space could effectively relieve the pressure of the ground traffic, extend space and ensure the safety and durability of engineering structures, which had good development potential.According to the theory of life cycle and variable fuzzy set, a new variable fuzzy set evaluation method based on life cycle theory was established. By using practical examples to compare the equivalent function of ground and underground engineering, the superiority of underground engineering development and construction was obtained. The results indicated that the proposed method was practicable, and could effectively evaluate the underground engineering, and provided decision-making basis and new assessment ideas for the construction of similar underground projects.