Abstract: The surrounding rock of deep roadways in coal mines is prone to large deformation, roof collapse, and other dynamic disasters under the combined action of static and dynamic loads. An experimental system for testing roadway surrounding rock stability under combined static and dynamic loading has been developed, providing a new approach for revealing the dynamic response patterns and failure characteristics of surrounding rock. The system consists of a loading frame, a static loading module, a dynamic disturbance unit, and a multi-source monitoring system, enabling stability tests of roadway surrounding rock under bidirectional horizontal and vertical impact disturbances with varying stress wave intensities. The results indicate that the static loading system enables simultaneous application of axial and lateral loads, thereby simulating the in-situ stress environment of surrounding rock. The dynamic loading unit combines a drop-hammer impact device with a stress wave generator for disturbance application. Upon hammer impact, the upper and lower halves of the stress wave generator slide relative to each other, inducing surface waves in both horizontal and vertical directions. By adjusting the hammer mass and drop height, impact disturbances with different peak horizontal and vertical accelerations can be generated, which were quantitatively characterized using accelerometers. Together with earth pressure cells, acoustic emission (AE) sensors, a high-speed camera, and the XTDIC digital image correlation system, a multi-source monitoring system was established, enabling synchronous macro–micro monitoring of stress, displacement, acceleration, AE energy, and fracture evolution of the surrounding rock. The correlation of the multi-source monitoring data was further validated through Spearman’s correlation analysis. Furthermore, a continuous–discontinuous coupled numerical method was applied to reproduce the physical model test process. The simulation results were consistent with the experimental observations, confirming the accuracy of the tests and the reliability of the developed system. Overall, this study establishes an effective laboratory platform for investigating roadway stability under coupled static–dynamic loads, thereby providing experimental support for understanding dynamic disaster mechanisms and guiding roadway support design in deep coal mines.