AbstractIn this paper, the flexible support mould is designed by using magnetorheological elastomer (MRE) to assist in the deep‐drawing of magnesium alloys. Based on the magnesium alloy mechanical tensile test and magnetorheological elastomer regular force experiments, the deep‐drawing process of AZ31 magnesium alloy supported by support mould was numerically simulated by finite‐element analysis software ABAQUS. By varying the current input to the excitation coil to change the magnetic induction intensity and thus adjust the magnetic normal force of the magnetorheological elastomer, then using magnetic normal force to complete the auxiliary sheet metal deep‐drawing. The results show that, compared with the unsupported mould, the supported mould can effectively reduce the maximum thinning rate of magnesium alloy on the original basis, thus effectively increasing the ultimate depth of magnesium alloy deep‐drawing. It can replace the original buffer device, effectively solution the problem of pulling and cracking at the bottom of magnesium alloy caused by the original excessive damping force, and improve the yield rate of workpiece.