This study is used to calculate the bearing capacity and failure mode of the foundation near embankment slope under different water drawdown conditions. The results exhibit when the reservoir water level rapidly drops, and the ultimate bearing capacity decreases at beginning and then remains unchanged with the decrease in water level. For drawdown of slope water level after the reservoir has been rapidly drained condition, the ultimate bearing capacity initially decreases and then increases with the water level decreasing. Finally, the bearing capacity remains unchanged when the water level exceeds a certain depth. For the slow drawdown of slope water level conditions, the ultimate bearing capacity decreases first and then rises with the decrease in water level and remains unchanged when the water level exceeds a certain depth. The most unfavorable water level exists in the mode of the drawdown of slope water level after the reservoir has been rapidly drained, and for the slow drawdown of slope water level, its location is related to failure mode and slope gradient.