In oil exploration, the stability and safety of the derrick structure are crucial. However, most previous studies have not considered the damage caused by the long-term use of the derrick or the impact of the connecting pins on the safety of the derrick lifting process. To investigate the load-bearing performance of a derrick with damage and pins under different lifting angles, a full beam model of the derrick and a local pin multiscale model were developed for mechanical simulation analysis. The results show that as the lifting angle increases, the lifting force gradually decreases, with the maximum load-bearing capacity occurring at the initial lifting angle. For a derrick subjected to corrosion, its load-bearing capacity decreases as the corrosion depth increases. The pins bear significant stress during the lifting process, and the stress values decrease as the lifting angle increases. The research findings provide valuable references for the safety assessment and testing of derrick lifting operations in the field.