The model test method is crucial for studying the seismic performance of underground structures. Presently, model tests for the seismic response of underground structures are primarily performed with 1-g and N-g centrifuge shaking table. The 1-g shaking table model test is limited by the stress similarity in the soil-structure interaction system and cannot reproduce the seismic damage process and extent of the underground structure. The small table size of the N-g centrifuge model test makes it difficult to reflect the spatial effects of the seismic response of large underground structures. Seeking a large-scale model test method that can directly simulate the seismic damage process is essential for investigating the seismic performance of underground structures. Herein, based on the seismic response characteristics of underground structures, a quasi-static pushover test device applicable to underground structures was designed, and the corresponding tests and numerical model calculations were executed using the Daikai subway station as a prototype. Based on the macroscopic phenomena of structural damage development of the subway station in the test, the damage mechanism of the station structure was analyzed and compared with the numerical model. The strain amplitudes, displacements, and digital scatter strain color maps were analyzed to verify the reliability of the cyclic pushover loading test simulating the seismic performance level and damage process of the underground structure. Simultaneously, the rationality of the proposed quantification system for classifying the seismic performance level of single-story underground structures was verified.