The calculations of the whole energy spectrum of ZnSe:Ni2+ at normal pressure and pressure-induced shifts of its levels have been carried out on the basis of the theory of pressure-induced shifts and the diagonalization of the complete d8 energy matrix in a regular tetrahedral field. The calculated results are in very good agreement with experimental data at normal and various pressures. By taking into account the pressure-induced shifts of spectral bands, the new assignments of bands are given. The comparison between the results of ZnSe:Ni2+ and MgO:Ni2+ shows that the covalency of the bonding between Ni2+ and ligands (Se2-) in ZnSe:Ni2+ is obviously stronger than the one of the bonding between Ni2+ and ligands (O2-) in MgO:Ni2+; the expansion of electron wavefunctions of Ni2+ in ZnSe:Ni2+ under pressure is obviously larger than that of Ni2+ in MgO:Ni2+ under pressure. On the basis of these results, the physical origins of the remarkable difference between the pressure-induced shifts of levels of ZnSe:Ni2+ and those of MgO:Ni2+ are explained. It is found that the large expansion of electron wavefunctions and a phase transition of ZnSe:Ni2+ make the pressure-induced shifts of levels of ZnSe:Ni2+ strongly nonlinear.