Loading path is one of importance factors that influence the formability of sheet forming process. In this study, the effect of punching speed loading paths (PSLP) on forming and spring-back processes of TRIP (transformation induced plasticity) steel has been investigated. Four kinds of loading paths with three punch speeds are introduced to verify the cup drawing and U-channel spring-back processes based on a constitutive model accompanying the strain-induced martensite transformation. The results show that higher punch speed results in the thickness uniformity of drawing cup and the spring-back angle of stamping U-channel increased with the same loading path. Furthermore, a given loading path (C4) not only increases the minimum thickness of cup but also decreases the spring-back angle of U-channel.