The process design of backward and forward extrusion of axisymmetric part has been studied in this paper. The important factors of cold forging process with complex geometry are the design of initial billet shape, the possibility of forming by one-stage operation and the determination of preform shapes, etc. Based on the systematic procedure of process sequence design, the forming operation of cold forged part is analyzed by the commercial finite element program, DEFORM. The design criteria are forming load, geo- metrical filling without defect and a sound distribution of effective strain in final product. It is noted that one step of preform operation is required to obtain the final product. Numerical result is compared with experi- mental one. It is found that the analyzed result is in good agreement with actual forming result.