There are multiple nonlinearities during the course of powder rolling. Considering Material and Geometrical Nonlinearity during powder rolling, a constitutive model complying with an elliptical yield criterion aiming to the powder rolling is constructed based on the Updated Lagrange (U.L.) formulation by which the basic theory of numerical simulation is deduced. The numerical algorithm is discussed and it is implemented into user-subroutines of Marc. With the code, numerical simulation of powder rolling is performed. It is shown that the result of simulation was consistent with that of experiment and the whole result is dependable. The constitutive model and code developed in this work are correct and have good convergence during calculation. Its robustness is to be validated in simulations with complicated geometrical shape and boundary conditions.