The power system of pump station was designed and configured reasonably based on production process characteristics of different products formed by large die forging hydraulic press, and the hybrid power drive system with  direct drive of oil pump and dynamic compensation of accumulator flow was developed, which had important technical and economic significance to reduce the installed power of large die forging hydraulic press directly driven by oil pump, produce high-precision and high-performance products with the minimal resource consumption and manufacturing cost, and reduce equipment construction investment, energy consumption and long-term operating costs. The research shows that the application of hybrid power drive system in 350 MN multi-directional double-acting compound extrusion press has achieved remarkable technical and economic effects, greatly reduces the total installed power and energy consumption of equipment, improves the system control level and energy operation efficiency and provides a higher cost-effective solution for the design of transmission system of large die forging and multi-directional extrusion hydraulic press.