Photoelectric integrated testing technology was used to study precast piles during pile jacking at the pile–soil interface considering the influence of the earth and pore water pressures on its vertical bearing performance. The low temperature sensitive fiber Bragg grating (FBG) strain sensors and miniature silicon piezoresistive sensors were implanted in the model pile to test the changes of earth pressure, pore water pressure and pile axial force of the jacked pile at the pile–soil interface, and the influence of lateral pressure on pile axial force was studied. The test results showed that the nylon rod is feasible as a model pile. The FBG strain sensor had a stable performance and monitored changes in the axial force of the model pile in real time. The miniature earth and pore water pressure sensors were small enough to avoid size effects and accurately measured changes in the earth and pore water pressures during the pile jacking process. During pile jacking, the lateral earth pressure increased gradually in depth, and the lateral earth pressure at the same depth tended to decrease at greater depths. Lateral pressures caused the axial force of the pile to increases by a factor of 1–2, where the maximum was 2.7. Therefore, the influence of the lateral pressure must be considered when studying the residual pile stress.