For the deep hole piston sleeve of shock absorber, aiming at the problem of high production cost caused by the low material utilization rate of traditional cutting process, two sets of cold precision forging process with less cutting or no cutting were designed. Firstly, the forming results of the two forming schemes were analyzed based on Deform-3D simulation platform, and the practical feasibility of cold precision forging process was demonstrated from the aspects of filling effect and streamline distribution. Secondly, the mold structure, equivalent stress, temperature difference of parts after forging, forming force and mold wear of the two forming schemes were compared, and a more reliable and simple cold precision forging scheme was optimized. Then, the process was perfected, and the use effects of lower punches with flat cone head, cone head and ball head were analyzed. Finally, the cold forging test of deep hole piston sleeve was carried out based on the simulation analysis results. The test results show that the parts are fully filled with good appearance, no potholes, lack of meat and other defects, the dimension measurement results of the parts meet the requirements, the mass production is stable, and the product cost is significantly reduced.