The static stability of a tailings dam is analyzed with a finite element approach, which takes into account the effect of plastic deformation, temperature, saturation and void ratio on the properties of soil materials, the effect of water and soil interaction and the extended Mohr-Coulomb failure criterion. The concept of yield approaching degree is introduced, which is defined as the ratio of the existing equivalent stress to the yield stress taking into account the effects of different influencing factors. The response of the tailing dam subjected to the coupled saturated/unsaturated seepage and deformation is simulated, considering that the dry beach is 100-meter long and the starter dam is jammed, respectively. The important indexes such as the deformation and the phreatic surface of the dam are obtained. The distribution of the yield approaching degree in the whole dam under the given condition is obtained, which can provide not only a general stability assessment of the dam, but also important information to the decision-making for the reinforcement and maintenance of the dam.