To analyze the settlement of bearing structure of the cement concrete pavement of highway under traffic loads, pavement structure was regarded as a viscoelastic foundation beam. The interfacial friction effect between the foundation beam and soil below was introduced into the Kelvin foundation beam model. Based on the Kelvin model and taking the interfacial friction forces into consideration, an analytical solution of settlement for the viscoelastic foundation beam under traffic load was proposed by using trigonometric series, Laplace - Fourier transform and inverse transformation. Influence parameter study was presented to quantify the effects of various factors, such as the interfacial friction of subgrade and pavement, velocity of moving load, pavement structure stiffness, the coefficient of vertical soil reaction and viscous damping of subgrade. The results show that the settlement of pavement increases with the decrease of moving load speed，deformation decreases with the increase of viscous damping or subgrade stiffness, and deformation decreases with the increase of pavement stiffness or height of pavement structure. Meanwhile, the wave phenomenon of pavement decreases with the increase of the pavement structure stiffness.