Paraffin wax is a viscoelastic material that is prone to flow under pressure. In this paper, paraffin wax is used as the pressure medium to transfer the punch force to form 1060 aluminum plate. Paraffin wax can effectively suppress the instability and wrinkling occurrence for the sheet metal during the forming process. The finite element modeling (FEM) was employed to study the effects of different forming radii, paraffin particle size, paraffin layer thickness and forming pressure on the forming accuracy of the formed part. The proposed method was simulated by Coupled Eulerian-Lagrangian analysis. The effects of paraffin layer thickness and forming pressure on the average error of the formed part was analyzed by measuring the actual formed part. The experimental results show that increasing the forming pressure and the thickness of the paraffin layer can reduce the shape deviation of the formed part.