In this work, a variant of the incremental sheet forming (ISF) process, namely the incremental sheet forming by using water jet (ISF-WJ), was studied. In the investigation, an ISF-WJ prototype machine was designed and developed. Different design concepts of the water jet nozzle were proposed and evaluated to achieve the maximum forming pressure by performing computational fluid dynamic (CFD) simulations. Based on the forming pressure distribution modeled by CFD simulations, finite element (FE) models were developed to study the sheet deformation behavior under the ISF-WJ process condition. Based on the understanding gained from the numerical study, experiments were conducted to validate the ISF-WJ process and the developed prototype machine. The results suggest that ISF-WJ is a feasible process to achieve improved surface finish of thin sheet parts. In addition, this study has found that water jet pressure plays an important role in preventing sheet wrinkling and obtaining an accurate geometry of formed parts.