This paper presents the calculation formula of earth pressure based on SMP failure criteria in the active zone, passive zone, and different soil and water conditions. The calculation results based on SMP failure criteria of Shanghai Center Tower is compared with the measured data and the calculation results of Rankine’s earth pressure. The results show that compared with that of Rankine’s earth pressure, the earth pressure based on SMP failure criteria is more consistent with the measured value, and provides some safety margin.