The purpose of elastoplastic analysis for frozen wall is not only to reduce the thickness of frozen wall, but also to provide reference for the reliability design. The development of elastoplastic analysis for frozen wall is reviewed, and the elastoplastic mechanical model of frozen wall is studied based on the elastic analysis of “Baoshen” formula. The analytical solutions of the stress field and displacement field are deduced and compared with different mechanical models. Then a discriminant for the horizontal initial stress and the plastic zone radius under different yield criteria are also investigated when the frozen wall is approaching plasticity. According to engineering case studies, the critical edge pressure, the plastic zone radius and the load on elastic zone are analyzed under different initial stress levels and different yield criteria. The results show that the critical edge pressure of the frozen wall is increased by 32%, the radius of the plastic zone is decreased by 14.5%, and the load of the frozen wall is decreased by 23.3%, which provide the data support for the reliability analysis of the design of the frozen wall thickness.