Abstract: In order to study the feasibility of reconstructing deep cave reservoirs into underground gas storages, program in MATLAB programming was made to calculate injection pressure, derive and establish prediction mathematical model for storage capacity based on the geological characteristics of cave reservoirs, and physical simulation experiments were conducted to verify the reliability of mathematical model for storage capacity prediction. The results show that reconstructing deep cave reservoirs into underground gas storages is feasibile to some extent, but the requirement in injection pressure is strict. The upper limit of injection pressure is 45 MPa and the best gas injection rate is 10×10⁴ m³ per day. The physical simulation experiment can simulate the process of gas injection and oil production in cave reservoirs, which can form gas storage at the same time. There is little error between storage capacity in the experiment and the simulated result from mathematical model, suggesting that the storage capacity mathematical model has a certain degree of reliability.