To investigate the impact of the anisotropy of BFRP corrugated plates on the performance of corrugated plate linings, experimental studies on the biaxial tensile, bending, and shear properties of BFRP corrugated plates were conducted. Additionally, a finite element model was used to simulate and analyze the effects of parameters such as wave height, wave spacing, thickness, and material on the deflection and stress peaks of the corrugated plate lining under both normal and extreme conditions. The results show that the fiber orientation significantly influences the tensile, bending, and shear strength and modulus of BFRP corrugated plates. The bending strength perpendicular to the fiber direction is more than 90% lower than the bending strength parallel to the fiber direction, and the deformation capacity is reduced by 68%. Under similar deflection conditions, the BFRP corrugated plate lining is more than 40%-60% lighter than the corrugated steel plate lining, resulting in 1.7-1.9 times increase in structural safety factor and a significant improvement in the elastic deformation capacity of the structure.