Bearing bush cold rolling is an unsteady and nonlinear plastic deformation of the blank material under external loads. In order to further explore metal plastic deformation mechanism of the bearing bush cold rolling, three-dimensional finite element model of cold rolling for radial sliding bearing bush was set up by ABAQUS, and the process of cold rolling of QAl10-4-4 bearing bush was numerically simulated. Then, the plastic deformation rule and forming characteristics of bearing were analyzed, and the experiment of cold rolling was carried out on the precision cold rolling machine. The results show that in the cold rolling process, the bearing shell plastic deformation moves from inner surface and outer surface towards middle layer, and a larger equivalent strain locates at the inner surface and outer surface, while smaller equivalent strain locates at the middle area. The simulated result is consistent with the theoretical research. The bearing bush forming quality is better with size precision 0.05 mm, inner and outer surface roundness 0.03 mm and surface roughness 0.8 μm.