The calculation of earth pressure is a difficult problem in the pit foundation design. Aiming at the problem, the earth pressure calculation formulas considering the displacement are proposed. A method for determining the limit displacement is given and it is convenient for use. The result indicates that the earth pressure calculated by the formulas is between the earth pressure at rest and the Rankine earth pressure, the formulas can reflect the change rules of active and passive earth pressures along with the displacement. Moreover, the calculation result using the formulas is approximate to the monitoring result. It confirms the validity of the formula deduction and the rationality of the calculation results. As for the passive earth pressure, the calculation method is theoretically feasible.