In order to explore the relationship between the critical bearing capacity and settlement of closed pile tip pierced into the soil, based on the Boussinesq solution and the Kelvin solution, the analytical solution between the critical bearing capacity and the critical settlement of the closed pile tip is derived by combining the stress distribution function. The analytical solution of critical bearing capacity and settlement of pile tip is verified by field test of static pressure pile penetrating into layered soil with a full-section pressure sensor installed at pile tip. The results show that during the penetration process, the bearing capacity increase stage of the pile tip is divided into linear steepening section and nonlinear slow increasing section. The soil in the linear steep increase section behaves as an elastic state. The bearing capacity of the pile tip before the punctured soil layer is linear with the settlement, and the final value of the linear steep increase section is the elastic limit value and the critical bearing capacity of the piercing pile tip. When the residual pile tip force is not considered, the critical settlement of the pile tip is between 0.095-0.119d; when considering the residual pile tip force, the critical settlement is between 0.091-0.105d. In particular, when the Poisson's ratio is 0.5, the analytical solution of the semi-infinite space is equivalent to the analytical solution of the infinite space.