In order to accurately simulate the plastic forming process of blank making in loose tooling forging， according to the plastic forming theory， the main factors affecting the metal plastic forming were summarized as the temperature state of blank， strength of deformation speed， deformation resistance of material used for blank and contact friction during the forming process. The rigid-viscous-plastic finite element suitable for the plastic deformation calculations was selected， and a quarter structural model was used to save the computing resources. Then，the upsetting and punching processes of an existing press were simulated by finite element，and the simulated calculation results and the actual measurement data were comparied to verify the accuracy of the simulation method. Finally， the plastic forming process of blank making in loose tooling forging was simulated by the finite element simulation method.The required forming time and the maximal forming forces during the upsetting， punching， bottom-cutting and flash removal and hole expansion processes are obtained by statistics，which are 5.8， 9.5， 2.5 and 20.0 s， and 12.63， 35.00， 3.44 and 5.08 MN， respectively，as well as the surface temperatures of blank after upsetting， punching and bottom-cutting and flash removal are 977， 715 and 666 ℃， respectively.The study results provide a technical basis for the process design of press.