Nowadays, the compound fine-blanking forming process is one of the most important processes to produce complicate multifunctional parts without subsequent machining. However, the big die-roll occurs in the sharp area is a common problem in this process. In this paper, the method with negative punch-die clearance was proposed to solve this problem by comparing three feasible plans. In addition, the influence on the process with different value of the negative punch-die clearance was studied by the finite element method (FEM). The results of this study verified that the process with suitable value of the negative punch-die clearance can result in significant decrease of the die-roll size. The relationship between the material flow near the region of die-roll and the punch-die clearance was also clarified.