This paper presents the results of a numerical investigation on the load carrying capacity and consolidation behavior of suction piles. Three dimensional numerical models which reflect realistic ground conditions and installation procedures including the ground-suction pile interface were adopted to conduct a parametric study on variables such as the length-diameter ratio and the loading configurations, i.e, vertical, horizontal, and combined loads. The results indicated that the load carrying capacity of a suction pile can only be realistically obtained when the interface behavior between the suction pile and the ground is correctly modeled. Also carried out was the stress-pore pressure coupled analysis to investigate the consolidation behavior of the suction pile after the application of a vertical loading. Based on the results, failure envelops and associated equations were developed, which can be used to estimate load carrying capacity of suction piles installed in similar conditions considered in this study. The results of consolidation analysis based on the stress-pore pressure coupled analysis indicate that no significant excess pore pressure and associated consolidation settlement occur for the loading configuration considered in part due to the load transfer mechanism of the suction pile.