This paper concerns the finite element (FE) modeling approach for NATM tunneling in water bearing ground within the framework of stress-pore pressure coupled analysis. Fundamental interaction mechanism of ground and groundwater lowering was first examined and a number of influencing factors on the results of coupled FE analysis were identified. A parametric study was then conducted on the influencing factors such as soil-water characteristics, location of hydraulic boundary conditions, the way of modeling drainage flow, among others. The results indicate that the soil-water characteristics play the most important role in the tunneling-induced settlement characteristics. Based on the results, modeling guidelines were suggested for stress-pore pressure coupled finite element modeling of NATM tunneling.