The invention relates to a fire-proof and explosion-proof underground substation. A pressure detection device for detecting pressure in equipment is arranged on oil-immersed equipment in the underground substation; the pressure detection device is connected with a control switch corresponding to the oil-immersed equipment; and the pressure detection device detects the pressure in the corresponding oil-immersed equipment in real time or inconsistently, and cuts off the control switch of the oil-immersed equipment when the pressure reaches a first set threshold. Compared with the prior art, pressure test equipment is arranged in the oil-immersed equipment, so that the condition that a combustible gas escapes and contacts with air to cause explosion or combustion due to the fact that an equipment shell cracks when the pressure in the equipment is overlarge can be avoided; and the safety of the underground substation is improved.