Abstract: Against the backdrop of the rapid growth of the new power system and large-scale energy storage demand, the safety of lined caverns in compressed air energy storage (CAES) power stations has become a crucial factor restricting engineering construction. Aiming at the problems of large burial depth, complex stress and concealed failure of lined caverns, this paper focuses on the engineering requirements of lined caverns, analyzes their working principles and failure mechanisms, and constructs a key investigation technology system centered on deep geophysical exploration, high-pressure water pressure tests and rock mechanics tests. Combined with the engineering example of a 300MW-class CAES power station, the matching relationship between investigation data and design schemes is analyzed and evaluated, verifying the engineering application effect of the investigation results in burial depth optimization and structural safety control.