A special elasto-plastic dynamic finite element code named RingForm has been developed to analyze cold ring rolling process. Central difference method was introduced to solve the dynamic explicit finite element equations. Strain state was estimated by the value of yield function of the last and the present time step. To reduce the accumulative error caused by elasto-plastic constitutive relations, the radial return algorithm was employed. In comparison with the experimental results, the cold ring rolling process of a ring with rectangular section has been simulated to verify the accuracy and stability of the system solver.