Numerical analysis of the optimal supporting time and long-term stability index of the surrounding rocks in the underground plant of Xiangjiaba hydro-power station was carried out based on the rheological theory. Firstly, the mechanical parameters of each rock group were identified from the experimental data; secondly, the rheological calculation and analysis for the cavern in stepped excavation without supporting were made; finally, the optimal time for supporting at the characteristic point in a typical section was obtained while the creep rate and displacement after each excavation step has satisfied the criterion of the optimal supporting time. Excavation was repeated when the optimal time for supporting was identified, and the long-term stability creep time and the maximum creep deformation of the characteristic point were determined in accordance with the criterion of long-term stability index. It is shown that the optimal supporting time of the characteristic point in the underground plant of Xiangjiaba hydro-power station is 5–8 d, the long-term stability time of the typical section is 126 d, and the corresponding largest creep deformation is 24.30 mm. While the cavern is supported, the cavern deformation is significantly reduced and the stress states of the surrounding rock masses are remarkably improved.