Taking a tailings dam in Hebei as the research object, the dynamic response of the dam under action of flood and earthquake is simulated by using a finite element software, and the seismic dynamic responses of the dam with respect to acceleration, stress, displacement, liquefaction area and stability are analysed. The results show that the vertical acceleration increases with the height of the dam, the horizontal acceleration is gradually increasing from outside to inside. A larger horizontal and vertical displacement occurs at the 3/4 height of tailings dam. After considering the relative density of the tailings dam and drainage condition, all the three kinds of seismic waves cause a small range of liquefaction area. The stability of the tailings dam is calculated with Sweden Arc Method, showing dynamic stability safety factor is 1.257 when considering drainage, which is larger than code value, indicating the tailings dam is stable in the case of earthquake.