With the progress of technology and the accelerating pace of product replacement and update, the flexible plastic forming technology, which is suitable for the production of the small quantities and varieties, has got more and more attention in recent years. For example, the flexible multi-point of sheet metal forming, flexible rolling for shaft forgings and so on. For the manufacturing of hollow shaft parts, a new forming technology of flexible rolling and extrusion was introduced. On the base of theoretical analysis of the mechanics parameters of the flexible rolling and extrusion, the stress-strain field of the new process was analyzed by the finite element method, which laid a foundation for the new process optimization and application.