Rapid CO₂ degassing and calcite precipitation driven by cave ventilation influence the speleothem δ¹⁸O and δ¹³C. However, the drivers of cave ventilation are not completely understood due to the lack of monitoring of multiple environmental factors. Furthermore, the understanding of isotope fractionation caused by the dissolution of speleothem in undersaturated drip water is limited during the cave air stagnation. In this study, we displayed four years of cave microenvironment monitoring in Shawan Cave, Southwestern China, and analyzed the δ¹³C_DIC and δ¹⁸O of drip water, and calcite precipitation δ¹⁸O and δ¹³C. The results show that the ventilation process is attributed to buoyancy airflow between external atmosphere, fissure air, and cave air. This causes that the higher (lower) cave air pCO₂ in the summer (winter) is associated with upward airflow mode (downward airflow mode). Furthermore, cave ventilation could control the isotopic fractionation. Specifically, when cave air pCO₂ is lower, the carbon isotopic disequilibrium between calcite and dissolved inorganic carbon (DIC) is controlled by the degassing of CO₂ associated with calcite precipitation. The disequilibrium fractionation in carbon isotopes is less pronounced at slower drip-rate sites. The oxygen isotope fractionation between calcite and the drip water is found to be close to equilibrium. However, the high cave air pCO₂ (exceeding 10,000 ppm) may result in drip water undersaturation to drive the dissolution of speleothem calcite. The δ¹⁸O values of drip water are pulled away from their original values to disequilibrate to the calcite because the exchange time of oxygen in the dissolved carbonates with the oxygen in the water is sufficiently long. Hence, the dissolution of speleothems may be a new mechanism to explain the oxygen isotopic disequilibrium between the calcite and drip water during the cave air stagnation. The carbon isotope fractionation between calcite and drip water is close to equilibrium.