The workability in the cold pilgering of a zirconium alloy tube was investigated. In this study, a compression test was proposed as a method of evaluating cold workability. Compression test results showed the effects of heat treatment in the fabrication process and the texture of the tube on the cold workability of a Zircaloy-4 tube shell. Cold pilgering test results ascertained that the reduction in the height of the circumferential-direction specimen of the tube shell at the crack initiation in the compression test was a good measure of cold workability. The numerical analysis results of cold pilgering proved the validity of the compression test as a method of evaluating cold workability.