Considering the initial and induced anisotropy of the soil, the solutions to the stress and pore water pressure around a jacked pile, based on K₀ modified Cam-clay model (K₀-MCC), were derived by using cylindrical cavity expansion to simulate the pile installation. Meanwhile, with the axial consolidation theory and the elastic-plane hypothesis for the reconsolidation of the soil around the jacked pile, governing equation for consolidation was established. The variation of the soil strength with reconsolidation time was studied with relaxation effect based on the above studies, and the theoretical solution was then verified by the centrifuge model tests. The results show that the presented theoretical method can properly predict the time-dependent soil strength and the change of excess pore water stress after the pile installation, and the over-consolidation ratio, static lateral pressure coefficient and effective angle of internal friction of soil also have influence on the time-dependent soil strength around the pile. The solution of time-dependent strength of soil can provide theoretical basis for the prediction of time-depended bearing capacity of jacked pile in saturated clay.