With the emergence of complex engineering conditions, high performance concrete (HPC) is usually used in subway lining structure. Additionally, hole is a common defect in HPC, and it is also the inducing factor of failure of HPC structural components. The stress concentration situation of the hole can become particularly intricate due to the combination of varying hole sizes, different confining pressures, and the potential for pressurized liquid flow into the hole. Based on the experimental results, the stress averaging method is modified and proposed in this study to predict the sidewall failure of the hole. In this modified method, the stress concentration degree for the compressive stress concentration of the hole is unified. The method of determining the stress averaging length is given, so as to perfect the stress averaging method and make it suitable for HPC. By using the modified stress averaging method and related failure criteria, the sidewall failure under great intricate conditions is well predicted, and the calculated results are in good agreement with the experimental results.