The cement stone is widely utilized to fill the gap between the formation and the casing in wells. A clear understanding of the deformation and failure mode of cement stone under true triaxial stress state is necessary to ensure the safety and stability of wells. To analyze the three-dimensional deformation and failure characteristics of cement stone, the loading paths with constant Lode angle were employed in conducting true triaxial tests on cement stone. The stress-strain curve and failure mode of cement stone are first analyzed. Then, the three-dimensional deformation characteristics are discussed in meridian and deviatoric planes. Both peak strength and deformability increase with minimum principal stress, but show a tendency to increase and then decrease with intermediate principal stress coefficient. With the increase of minimum principal stress and intermediate principal stress coefficient, the failure mode of cement stone transforms from brittle to ductile behavior. Under elastic stage, the strain path in the meridian plane is a straight line, and is under constant Lode angle within the deviatoric plane. Due to the existence of plastic strain, the strain path in the meridian plane displays a downward convex shape. The strain path in the deviatoric plane deviates from the reference of constant Lode angle for stress, directly reflecting the Lode angle dependence of deformation. Both deformation and failure characteristics of cement stone are dominated by the three-dimensional stress state. Besides, deformation of cement stone is closely related to the failure characteristics of cement stone.