The heavy vehicle load during construction and traffic load in operation period can influence the settlement of filled embankment, and may lead to the occurrence of roadbed diseases. The settlement of a highway’s embankment with different compaction degree filled on the slope and residual soil under heavy vehicle load during construction and traffic load in operation period were analyzed using numerical simulation. The results show that the maximum settlement of the embankment with the heavy vehicle load at completion increased 80.8%~103.4%. The maximum relative settlement of the embankment itself increased 125.1%~163.6% and decreased with the increasing compaction degree. In operation period the increments of the maximum settlement of the embankment and the maximum relative settlement of the embankment itself caused by traffic load are 23.6%~31.1% and 27.2%~73.6%, respectively. The greater is the compaction degree, the less is the influence of vehicle loads on the embankment settlement. Furthermore, the influence of vehicle loads on the settlement of the embankment itself is greater than that on the settlement of the foundation.