Stone arch bridge is an important type in the early bridge construction process because of its beautiful shape, material saving and economic rationality. However, stone material will deteriorate after long-term operation, which results in a decrease in strength and bearing capacity of stone arch bridge. The vehicle load is increasing at the same time. Therefore, accurate evaluation of bearing capacity of stone arch bridge is essential to ensure safety. In this article, a three-span open-spandrel stone arch bridge was taken as research object. Firstly, the bridge damages were investigated and analyzed in detail, and bridge service state was evaluated. Then, based on the evaluation results of disease damages and considering stone material deterioration, a refined finite element model of stone arch bridge was established to analyze bending moment, axial force, strain and deformation. Finally, static load test was carried out to test vertical deformation and stress of arch ring, horizontal displacement of pier, settlement of foundation and development of cracks. The results show that static load test is the most accurate method for evaluating bearing capacity of stone arch bridge. The evaluation accuracy of finite element model based on material correction is in the middle, and the evaluation accuracy of disease damage assessment is the worst. In practical work, bearing capacity of stone arch bridge can be evaluated by combining the three methods with high accuracy and comprehensive results.