For long piles driven in deep clay deposits, it is difficult to estimate the ultimate bearing capacity due to large resistance induced by long embedded depth, and also the load transfer curve due to large residual load induced by negative skin friction, even with the performance of pile load tests. In this research, a hi-directional load test on a PHC pile driven in deep soft deposit was performed in order to evaluate the tip and shaft resistances separately, which are feasible to estimate the ultimate bearing capacity of the pile. Residual load of the pile was determined by continuous monitoring of pile strains after the pile installation. The true resistance and true load-movement curve of the pile were properly estimated by taking account of the residual load. A model far behavior of the shaft resistance vs. movement was also proposed, which includes the effects of residual load based on the experiment. Consequently, it was proved that the residual load should be taken into consideration for correctly analyzing load test results of piles in deep clay deposits.