Excavation behaviours not only destroy the balance of original stress in rock mass but lead to the redistribution of initial stress, resulting in rock mass in a new stress environment. The static stress in rock mass has the characteristics of dynamic change. For the purpose of investigating the effect of increasing static stress on attenuation mechanism and energy dissipation of stress wave in sandstone under the overall deformation condition, small disturbance experiments on sandstone bar are carried out with a modified split-Hopkinson pressure bar test system. The stress waveform, p wave velocity, temporal and spatial attenuation of amplitude, and energy dissipation are studied under various static stresses. Results show that stress waveforms at different locations are approximately the same, those at the same locations vary greatly, and the tensile waves that appeared at the tails of stress waves are larger with increasing static stress. With increasing static stress, p wave velocity experiences a dramatic increase, then develops gently, and finally a sharp decrease; the stress demarcation points are σs/σc = 30% and σs/σc = 55%, respectively. P wave velocity can be predicted by a quadratic equation when σs/σc > 63.69%. The relation between longitudinal wave velocity and static stress can be described by a quadratic function. Stress wave amplitudes decrease exponentially with increasing distance and time. Values of temporal spatial response intensity (RI) and spatial RI are approximately equal and present the same development tendency of nonlinear and linear stages due to the same dimensions. Values of temporal attenuation characteristic (AC) and spatial AC are differed by 2 or 3 orders of magnitude although they present the same development tendencies. Ratios of RI and AC can indicate the sensitivity of temporal and spatial attenuation to different static stresses. Full-wave energy declines in an exponential function with increasing static stress and decays as a logarithmic function with increasing distance. Widespread attenuation characteristics like these should provide a theoretical basis for rock mass stability analysis.