The invention relates to a forging process of a bearing ring. The process includes following steps that: 1) in first firing, a medium-frequency induction heating furnace is adopted to heat an ingot to 1200 DEG C, dead head pressing, chamfering and sprue filing are performed; 2) in second firing, re-heating, upsetting and drawing out are performed on the machined ingot; 3) in third firing, re-heating, upsetting, rotary flattening, punching and reaming are performed on the machined ingot; 4) in fourth firing, the machined ingot is re-heated, and upsetting is performed on the machined ingot in a mold ring, so that the machined ingot can be in a technique size, the mold is removed, and reaming is performed on the machined ingot, so that the machined ingot can be in a technique size, and total forging ratio is controlled to be larger than 5; 5) groove turning is performed, the machined ingot is subjected to cold rolling and reeling on a closed shaping and reaming machine, and rolling paths and chamfered angles are molded with one step, truing is performed, and two end surfaces are subjected to soft grinding; 6) the machined ingot is pre-heated to 800 DEG C to 850 DEG C, after crack detection is performed, when the temperature of the machined ingot is lower than 450 DEG C, the machined ingot is put into the furnace so as to pre-heated to 600 DEG C to 650 DEG C, and heat preservation is performed on the machined ingot, and the machined ingot is put in to the furnace of which the temperature ranges from 950 DEC C to 1000 DEC and is rapidly heated to 1140 DEC C to 1200 DEC C, and water quenching is performed, and instantly, tempering from 550 DEC C to 600 DEC C is performed on the machined ingot, and the machined ingot is cooled to 400 DEC C to 450 DEC C in the furnace, and the machined ingot is taken out from the furnace and cooled. With the forging process adopted, inherent defects of metal can be eliminated, and the service life of a bearing can be prolonged.