The cylindrical cup drawing of 5A90 Aluminum-Lithium alloy sheets at various forming conditions was studied by both the experimental approach and the finite element analysis. The uniaxial tensile tests and forming limit tests of 5A90 Al-Li alloy sheets at various temperatures were first carried out. The tests results were then employed in the finite element simulations to investigate the effects of process parameters, such as forming temperature, holder force, and die corner radius, on the formability of cylindrical cup drawing with 5A90 sheets. In order to validate the finite element analysis, the corresponding deep drawing tests were also carried out. It is shown that the simulation results are in qualitative agreement with the experimental observations. The optimal forming temperature, diameter of blank, holder force, punch radius and die corner radius were then determined for the cylindrical cup drawing of 5A90 sheets, and the limit drawing ratio (LDR) reached 2.4 in the optimal parameter conditions.