Press forging of magnesium alloy AZ31 sheets was investigated in this paper. The typical component, a rectangular box with bosses at the bottom was formed. The experimental results show that the magnesium alloy sheets are suitable for press forging. The bosses and the rectangular box can be formed synchronously for 2 mm or 3 mm thick sheets when the punch temperature is 250 °C. By experimentation and numerical simulation, the effects of process parameters on material flow were analyzed, including the temperature, the die shape, the blank size, the lubrication manners and the friction condition.