Blasting silt squeezing technology is a new soft foundation treatment technology. In recent years, this new technology has played an important role in the construction of water conservancy and tidal power stations in deep silt geological areas. However, the construction of dams for similar projects needs to deal with the thickness of silt soft foundation is gradually deepening. Engineering practice shows that the use of suspended dam structure can save project cost and speed up the progress of the project. Therefore, engineers often use suspended dam structure in deep silt geological areas. The stability analysis of this new type of dam structure has important engineering application value. Taking the bank protection project of an oil depot as an example, the safety factor of the embankment slope formed by blasting compaction is calculated by using the limit equilibrium analysis method, and its overall stability is further judged and analyzed. The conclusions are as follow: (1) It is difficult to accurately calculate the change and dissipation process of pore water pressure in most cases (such as construction period, sudden drop of water level, earthquake.), it is generally recommended to use the total stress method to calculate and analyze the stability of the dam in practical engineering applications. (2) At the same time, the shear strength index of soil mass should be reasonably selected in combination with the actual loading conditions, filler properties and drainage conditions of rock and soil slopes. (3) The safety factor calculated by the traditional Swedish slice method is low. The assumptions of Bishop method and Janbu method are closer to the actual project, and the reliability of the calculation results may be better.