The demand of thin gauge strip with good quality such as the strip shape and surface finish is significantly increasing. In this study, finite element model of the strip shape during cold rolling of thin strip in asymmetrical rolling was developed, and the finite element simulation of the thin strip shape has been carried out in LS-DYNA. The effects of reduction and speed ratio on the strip shape and profile and the strip edge drop have been obtained. The developed finite element model has been verified with the experimental data. The obtained results are applicable to the control of the rolled thin strip shape in rolling practice.