Abstract: Aiming at the shortcomings of AZ31 magnesium alloy, such as easy cracking at room temperature forming and easy oxidation at high temperature forming, the effects of ultrasonic frequency and amplitude on the stamping thickness（STH）, thinning rate（TR） and the ultimate drawing depth of the sheet during stamping process were studied by applying ultrasonic vibration to the blank holder. The simulation model was established using ABAQUS finite element software. The drawing depth and the corresponding sheet thickness and thinning rate of AZ31 magnesium alloy at room temperature without vibration were compared, and then the ultrasonic harmonic vibration was applied to the blank holder on this basis. The effect of ultrasonic vibration on the sheet metal stamping performance was discussed. The results show that with the increase of the vibration frequency from 20 kHz to 40 kHz, the sheet minimum thickness change decreases slowly first, then increases sharply, and finally decreases. In the range of 36-37 kHz, the sheet minimum thickness is the largest and the thinning rate is the smallest. With the increase of the vibration amplitude, the sheet minimum thickness and the ultimate drawing depth show a increasing trend, while the thinning rate gradually decreases.