Abstract: To solve the reuse of increasing number of abandoned coal mine, five principles and requirements of taking advantage of underground space of abandoned coal mine have been proposed based on the technical route of compressed air energy storage. For the abandoned Xinji NO. 3 coal mine, available underground space has been calculated and four safety stability evaluation criteria have been put forward for the purpose of selecting proper pressure range of air storage. Otherwise, FLAC 3D software was used to establish mathematical model and analyze the geological safety and stability of the wellbore and different levels of roadways and caverns under 8~10.8 MPa. The results showed that compressed air energy storage in deep underground space of abandoned coal mine can meet the safety and stability requirements of air storage within 10.8MPa after strengthening, which provides the research foundation and theoretical basis for compressed air energy storage in underground space of abandoned coal mine.