A geothermal development system includes a ground lifting system, a large-diameter shaft, an underground high temperature and high pressure heat transfer pool, a heat transfer diversion channel, a hot mine blasting fracture reservoir formed by an inlet blasting tunnel and a main tunnel, and a removable sealing device. The injection pipe and the collection pipe are set along the large diameter silo wall in the geothermal development system. The injection pipe is connected to the collection pipe through the heat transfer diversion channel in the dry hot rock. The circulation main roadway is arranged around the underground high temperature and high pressure heat transfer pool. Multiple blasting roadways are set along the main roadway level to form hot mine blasting fracture reservoir with loose blasting by caving method. A movable sealing device is arranged above the blasting layer of the large-diameter shaft.