In situ stress and joints have a significant impact on the propagation and attenuation pattern of blast stress waves, and they are two important factors that must be considered for tunnel blasting hole network deployment. This paper proposes a blast stress wave attenuation equation and a peripheral hole distance calculation method under the combined action of in situ stress and joints. First, the static and dynamic parameters of the jointed slate are obtained by drilling core samples in the field and conducting indoor tests. Next, considering the geometric and physical attenuation of the blast stress wave, the attenuation formula of the blast stress wave under the combined action of in situ stress and joints is derived. Based on the theory of the combined action of stress waves and explosive gas, a formula for calculating the peripheral hole distance that integrates the effects of in situ stress, joints, and tensile strength of the rock body is proposed. Finally, LS-PREPOST software is used to analyze the damage to the surrounding rock, verified by an on-site blasting test. The results show that the blast stress wave attenuation formula proposed in this paper can accurately predict the stress wave peak value under the combined action of in situ stress and joints. Combining the geological conditions and blasting parameters of the Bayueshan Tunnel study section, the optimal peripheral hole spacing is calculated to be 45 cm. The average over-excavation value of the grade IV surrounding rock is controlled within 22 cm and the over-consumption of concrete per linear meter is controlled within 100% using the peripheral hole layout method and the hole network layout parameters proposed in this paper. The research results provide a reference for the control of over-excavation and under-excavation in large-section tunnel blasting.