Aimed at the defects of passive method commonly adopted for the treatment of frozen soil slope failure in cold region, a new permafrost slope supporting structure with framed ventilation anchor pipe, which integrates the functions of active cooling, frost expansion reduction, retaining and anchoring, is developed based on the advanced concept of “active cooling to protect the frozen soil” and the advantages of ventilating pipe and framed anchor, and then the structural characteristics and working principle of the new supporting structure are elaborated. In consideration of the resistance loss of wind speed, the calculation formula for the wind speed inside the structure is obtained based on the quantity relationship between the driving force of the natural ventilation and the pressure difference of the wind field, and then, the ventilation capacity of ventilation anchor pipe can be evaluated. Based on the example, the structural ventilation capacity and the influencing factors are analyzed using the finite element method and the theoretical calculation. The results show that the new structure has good ventilation capacity, which shall be beneficial to the stability of the slope. The wind pressure difference is the main driving force of natural ventilation of the structure, and the resistance loss along the structure is the main wind speed loss of the structure. The setting of the induced-draft elbow pipe can improve the ventilation capacity significantly. The optimal diameter ratio of pipe for the structure is about 0.4~0.7. The larger the free segment length of the structure is, the weaker the ventilation capacity of the structure is.