In order to deeply study the variation of stress distribution of grouting anchor, taking the excavation of circular tunnel as an example, the grouting anchor and surrounding slurry are regarded as anchor solids, the stress characteristics of anchor solids are analyzed, and the expressions of axial stress and shear stress of anchor solids are derived. The rationality of theoretical analysis is proved by theoretical analysis and numerical simulation, and the variation of stress distribution of anchor solids under different influencing factors is analyzed. The feasibility of the analytical method is verified by numerical simulation and theoretical analysis. The axial stress at both ends of the anchor is close to 0, and the axial stress at the neutral point is the largest; The smaller the bolt diameter is, the closer the neutral point is to the center of the tunnel; The length L of anchor has the greatest influence on the stress distribution, and the diameter d_s of anchor, the cohesion c of surrounding rock and the distance X₁ from the working face during the initial support construction have the second influence on the stress distribution.