With the development of urban underground space, green and efficient excavation supporting structures are receiving increasing attention. Thus, prefabricated recyclable supporting structures (PRSSs) have been developed. A deep circular excavation supported by PRSSs in low plasticity clay (CL) was extensively instrumented to explore its deformation characteristics. The measurement results show that the lateral displacement of supporting piles (delta hp) presented a typical cumulative pattern dominated by deep inward movement. The maximum lateral displacements of supporting piles (delta hpm) varied between 0.28%H similar to 0.52%H (H is the excavation depth). The maximum lateral pile displacements mostly occurred above the excavation surface, ranging from H+0.5 to H-7.0. The soils 3 and 10 m from the excavation had the largest lateral displacement at the top and a cantilever shape. The ground surface settlements tended to follow a convex pattern. The maximum ground surface settlements (delta vm) were normalized using final excavation depth (He) on the east and south sides, i.e., 0.43% and 0.50%, respectively. The ratio of delta vm to delta hpm tends to increase as the excavation and dewatering proceeds and varies between 0.49 to 1.15. The ground surface settlement due to dewatering was 19% of the maximum settlement.