For the steel sleeve of converter outlet, according to the geometric dimension of part, the model was established by 3D modeling software UG NX12.0, and combined with finite element simulation software DYNAFORM, the simulation and experimental research on hydroforming was carried out. Then, the two-pass hydroforming liquid chamber pressure of finished product and the transition form of semi-finished product were studied, the transition method of cylindrical parts with inclined bottom was proposed, and the influence of bevel angle on the wall thickness distribution was explored. The results show that a two-inflection point loading path is used by the liquid chamber pressure in the finst pass of drawing, and the forming effect is best when setting an initial reverse expansion pressure of 2 MPa and a maximum liquid chamber pressure of 25 MPa. The maximum liquid chamber pressure of 30 MPa for the second pass of drawing can effectively avoid the generation of wrinkles and cracks. Compared with the transition method of ordinary cylindrical parts, the transition of cylindrical parts with inclined bottom is more conducive to deep drawing deformation, among which the 45° oblique angle transition has the best drawing effect. The appropriate process parameters are determined through finite element simulation, and a converter outlet steel sleeve product with qualified quality is obtained.