In this paper, a reasonable 3D FE model for power spinning of ellipsoidal heads with variable thickness has been established under ABAQUS/Explicit and validated. Then the variation of stress, strain and wall thickness during the process are obtained. Furthermore, the influence of the springback on stress, strain and wall thickness are gained with ABAQUS/Standard. The results show the following: (1) In the beginning, large stress, large strain and the thinning zone of wall thickness localize at the small contact zone below the roller; Then the zone extends into a ring and moves towards the position behind the roller; In the end, the ring transfers to the contact zone below the roller again and becomes uneven. The thinning zone is gradually impelled along the generatrix direction, and wall thickness is getting smaller and smaller. (2) The distribution of stress becomes more even after the springback, while the springback has little effect on the distribution of strain and wall thickness.