In order to improve the quality of ironing for QSn7-0.2 tin bronze connecting rod bushing and achieve cost reduction and efficiency improvement, combining the technique for order preference by similarity to an ideal solution (TOPSIS) with grey relation analysis, an improved TOPSIS-grey relation analysis multi-objective evaluation system was proposed. Then, for QSn7-0.2 tin bronze connecting rod bushing, taking thinning rate, die cone angle, deep drawing speed and friction factor as process factor variables, the orthogonal test of four factors and five levels was designed, and the numerical simulation analysis on ironing process was carried out by software ABAQUS. Furthermore, taking yield strength, tensile strength, residual stress and deep drawing force of forming parts as the comprehensive optimization objectives, the weights of multiple optimization objectives were objectively assigned by CRITIC method, and the multi-objective optimization problem was converted into a single objective optimization problem. Finally, the optimal process parameters for QSn7-0.2 tin bronze ironing are obtained as the thinning rate of 42%, the die cone angle of 9°, the deep drawing speed of 16 mm·s-1 and the friction factor of 0.15. Under the optimal combination of process parameters, the yield strength, tensile strength, residual stress and deep drawing force of workpiece are 587 MPa, 643 MPa, 173 MPa and 626 kN, respectively, and the forming quality is better and more balanced.