In order to reveal the important information of blasting characteristic parameters contained in tunnel blasting vibration signals accurately, the measured blasting signal is analyzed by EMD decomposition and crosswavelet transform, and the correlation coefficients between each component and the original signal are obtained, so as to accurately identify the principal component of the signal. And then, the correlation components including the principal component is reconstructed and the Hilbert transform is used to obtain the modulus value according to the correlation coefficient, and the millisecond delay time of each detonator used in the tunnel is accurately identified. The results show that the reconstructed signals of principal component and related ones determined by the combination method can highlight the main characteristics of blasting signals, and the analysis effect of the tunnel blasting signal is good.