A method of rolling with flat cutters having finishing blades for rolling a periphery of a pipe. In working, the pipe is rotatably supported at both ends by a pair of centers, a pair of flat cutters which have a plurality of corrugated finishing blades formed on a substantially triangular blade base are disposed such that the finishing blades face each other and the directions of the finishing blades are parallel to an axis of the pipe, and the flat cutters are moved rectilinearly in opposite directions to each other from an initial working position to a terminal working position such that one end of each finishing blade presses the pipe. Thus, the periphery of the pipe is progressively worked axially from one end of the pipe.