A slope at the Bingchang mining area was taken as an example to investigate the fracturing effect of extra thick coal seam mining on the overlying loess slope. The occurrence and mechanical characteristics of fractures in the loess slope were analyzed by using the physical model test and numerical simulation method. The test results show that fractures caused by coal mining in the overlying loess slope can be divided into two groups: fractures approximately perpendicular to the slope surface and fractures approximately parallel to the slope surface, indicating obvious spatial differentiation and orderly appearance. Fractures approximately perpendicular to the slope surface appear first and have characteristics of tensile cracks; they play an important role in cutting slopes. The fractures approximately parallel to the slope surface are derived gradually from the fractures perpendicular to the slope surface; they have characteristics of shear cracks and control the formation of potential sliding surfaces in the loess slope. In a word, the two groups of fractures cut the slope in a net shape, inducing the soil structure of the slope to break and fragment.