Body of QA35Y-30 hydraulic combined punching and shearing machine was analyzed by ANSYS. The stress and strain of the dangerous part of the machine were studied. The key structural factors which influence the maximum equivalent stress and strain of the machine parts were researched, and improvement schemes were proposed. According to the reconstruct model of the machine body, the largest equivalent stress is only 61.8 MPa and which is far less than the material allowable stress. And the maximum equivalent strain of the machine is only 0.0847 mm, which is far less than the maximum strain to 1.587 mm. According to the measurement on the machine jaw of  Y direction after improvement the machine body is more less than before, which proves that the ANSYS calculation model and the analytical results are correct.