Lingzhao Xuan, located in the Palace Museum, has significant historical, artistic and scientific values. To investigate the safety status and seismic performance of the Lingzhao Xuan structure, the material composition and performance of the main load-bearing members of the Lingzhao Xuan were examined, and a finite element seismic simulation was performed on the model. The results show that under different seismic intensities, the deformation of the central pavilion is more evident than that of the four metal pavilions in the corner. Under the 8-degree frequent seismic intensities, the tensile stress in the local area of the masonry has exceeded the design tensile strength value of the masonry, posing a risk of structural cracking. Under the 8-degree rare seismic intensity, when the seismic waves are along the direction of the east–west engineering axis, the stress at the column foot of the central pavilion is greater than the tensile strength of the cast iron. When the seismic waves are along the direction of the south–north engineering axis, the stress of the tie beam in the north–south direction of the central pavilion exceeds the tensile strength of the cast iron. The structure has a greater risk of collapse due to excessive deformation.