The steel wheel centre discs are usually stamped by multi-stage sheet metal forming. The stage number and the content of every stage decide if the structure-pieces can be formed successfully and the final forming quality. In this paper, the forming characteristics of wheel centre disc were analyzed firstly and the reasonable two-stage stamping scheme of drawing and inverse-drawing are adopted. The numerical simulations of multi-stage stamping process are performed and connected together through deformation transmission. By means of FLD and changes of sheet metal chickness, the formability is analyzed and the forming process is optimized. The feasibility of multi-stage forming process simulation and the validity of the optimized scheme were verified by stamping in practice.