Model tests and numerical calculations were adopted based on the New Yuanliangshan tunnel project to investigate the water pressure resistance of lining construction joints in high-pressure and water-rich karst tunnels. A large-scale model test was designed and conducted, innovatively transforming the external water pressure of the lining construction joint into internal water pressure. The effects of the embedded position and waterstop type on the water pressure resistance of the construction joint were analyzed, and the reliability of the model test was verified via numerical calculations. The results show that using waterstops can significantly improve the water pressure resistance of lining construction joints. The water pressure resistance of the lining construction joint is positively correlated with the lining thickness and embedded depth of the waterstop. In addition, the type of waterstop significantly influences the water pressure resistance of lining construction joints. The test results show that the water pressure resistance of the embedded transverse reinforced waterstop is similar to that of the steel plate waterstop, and both have more advantages than the rubber waterstop. The water pressure resistance of the construction joint determined via numerical calculations is similar to the model test results, indicating that the model test results have high accuracy and reliability. This study provides a reference for similar projects and has wide applications.