HT5SS]The method of fast finite element analysis of sheet metal forming based on deformation theory was explored, and the computer program was implemented. The comparison of results obtained from this method with experiment and incremental approach indicated that this method can analyze the deformation of sheet metal forming part qualitatively. Because of its rapid computing speed and simple modeling requirement, this method can be used to evaluate the formability of the parts and effects of some process parameters on the forming at the early design stage.