Large-scale shell-model calculations are carried out in the model space including neutron-hole orbitals 2p(1/2), 1f(5/2), 2p(3/2), 0i(13/2), 1f(7/2), and 0h(9/2) to study the structure and electromagnetic properties of neutron-deficient Pb isotopes. An optimized effective interaction is used. Good agreement between full shell-model calculations and experimental data is obtained for the spherical states in isotopes Pb194-206. The lighter isotopes are calculated with an importance-truncation approach constructed based on the monopole Hamiltonian. The full shell-model results also agree well with our generalized seniority and nucleon-pair-approximation truncation calculations. The deviations between theory and experiment concerning the excitation energies and electromagnetic properties of low-lying 0(+) and 2(+) excited states and isomeric states may provide a constraint on our understanding of nuclear deformation and intruder configuration in this region.