To study the impact of blasting hole depth on the application of liquid carbon dioxide phase transition blasting technology （LCPTBT） in rock cutting excavation engineering， multiple sets of field tests are designed in this paper based on the Jiuquan-Ejina Banner railway cutting excavation project. In the test， the actual effect of field tests blasting and the vibration monitoring signals are analyzed. Research shows that the blasting energy can be effectively used under the condition of a blasting hole depth of 4 m. From the bottom of the blasting hole， there are through cracks along the entire cross section of the cutting step， and the cracks at the free surface are the most fully developed. When the height of the cutting step is greater than 5 m and there is a free surface， the maximum blasting hole depth of the Φ89 single-tube full-fill fracturing device can reach about 5 m under the lithological conditions of the formation. Among all working conditions， the vibration particle velocity component of z-direction is larger than the y-direction and x-direction. Due to the existence of the free surface， the stress wave is continuously reflected and superimposed during the propagation process， which strengthens the blasting vibration effect. As the distance of the measuring points increase， the vibration duration， peak particle velocity and peak particle acceleration at the measuring points gradually decrease， which decrease sharply at a short distance from the blasting hole. Moreover， as the trend of decreasing with the increase of distance gradually decreases， the frequency band of the vibration energy distribution gradually becomes narrow.