The subway station operation is susceptible to safety accidents when high-pressure gas pipeline overlaying, and analyzing the correlations between the safety influencing factors (SIFs) under this operation situation can provide paths to reduce safety accidents. Thus, this paper investigated the coupling correlations between the SIFs. We firstly identified the SIFs during subway station operation under high-pressure pipeline (SSOUHP) based on the literature review and experts’ discussion. Then, the analytic hierarchy process (AHP) and coupling degree analysis (CDA) were combined to assess the coupling correlations between the SIFs. And Y subway station was selected to test the proposed hybrid coupling analysis approach. Research results show that (a) 23 second-level SIFs were identified and these SIFs can be summed up into 5 first-level SIFs, namely, human-related SIFs, pipeline-related SIFs, station-related SIFs, environment-related SIFs, and management-related SIFs; (b) the proposed hybrid approach can be used to evaluate the coupling correlations between SIFs; (c) of the coupling situations during Y subway station operation, the internal coupling correlations among environment-related SIFs, the coupling correlations between pipe-related SIFs and environment-related SIFs, and the coupling correlations among human-related SIFs, pipe-related SIFs and environment-related SIFs are with higher safety risk; (d) the overall coupling correlation among all SIFs during Y subway station operation is with lower safety risk. The research can enrich the knowledge in the safety evaluation area, and provide reference for onsite safety management.