A Large Strain and large displacement analysis of axisymmetric elastic-plastic shell bodies by means of finite element method is developed. In this Updated Lagrangian formulation for a ring shell element, the first Kirchhoff-Love hypothesis and the plate thinning treatment are introduced. Two material models, both treated as an isotropic and elastic-plastic solid, are employed. These are J2F and J2D models, obeying plastic-potential flow law and deformation rule, respectively. The analysis was performed for a free bulging of circular plate. It is concluded that thicker plate under clamped condition promote the formation of a local neck near the peripherally edge. In other case, such as thicker plate under simply supported condition or thinner plate under any boundary condition, the localized neck occurred near the center point.