The invention discloses a gearbox running ring machining process. The process comprises following steps that equal-distance punching and equal-distance transverse side cutting are carried out on the interior of a board strip to form a guide-right area and a machining area; through the guide-right area, the board strip is guided right and fixed, longitudinal side cutting is carried out, and the machining area corresponding to the longitudinal side cutting is symmetrically arranged; the center of the machining area is subjected to stretching through a male mold and a female mold to form a groove; the groove comprises a groove side wall and a groove bottom face, the groove side wall and the machining area are subjected to vertical stretching leveling, and the groove bottom face and the grooveside wall are subjected to vertical stretching leveling; the groove bottom face is subjected to punching separation through the male mold; the junction between the groove side wall and the machiningarea is subjected to circular bead arrangement; the outer side of the groove side wall is subjected to hole turning treatment, and the two ends of the side wall of the groove are subjected to outwardarc bending; deburring treatment is carried out, and blanking is carried out. Through the machining process, the running ring can be rapidly formed, and the high-precision treatment of the running ring is achieved.