With the increasingly emerging traffic intersection form of high-speed railways passing underneath integrated transport terminals, the ground vibration induced by trains running on underground high-speed railways has attracted extensive attention. In combination with the engineering example of a high-speed railway in construction passing underneath an airport, the wheel-drop impact test in the high-speed railway tunnel was designed to obtain the vibration characteristics of surrounding soil. The vehicle-track-tunnel-ground semi-analytical three-dimensional model was established to determine the initial dynamic load condition of the vehicle loads. The amplitude-frequency characteristic and transmission law of the ground vibration induced by trains running on underground high-speed railways were predicted and analyzed. The influences of different operation conditions, track parameters, and tunnel burial depths were compared. The research results show that the ground vibration obtained through the wheel-drop test is greatly attenuated within 10 m from the track centerline, with an attenuation rate up to 70%. The vertical vibration amplitude is obviously larger than that of the other two directions. The lateral ground vibration amplitude is the smallest with the slowest vibration attenuation speed. When the high-speed train passes through at the speed of 350 km/h, the vertical and lateral vibration levels of the ground surface within 80 m range are 20∼80 dB and 43∼72 dB, respectively. The maximum attenuation coefficient of Z-vibration level reaches 0.276 dB/m. For each increase of 50 km/h of the train speed, the Z-vibration level of the ground increases by about 2 dB. The smaller fastener stiffness leads to the greater ground vibration within 20∼50 Hz. The ground vibration level is positively correlated with the fastener stiffness above 79 Hz. When the burial depth of the tunnel is greater than 14 m, the burial depth of the tunnel has little effect on the change of the Z-vibration level of the ground.