Cycloid drives are generally used in precision machinery requiring high-reduction ratios, such as robot joint (RV) reducers. The contact stress of cycloidal gears greatly affects lifetime and transmission performance. Traditional finite element method (FEM) has less computational efficiency for contact analysis of complex surface. Therefore, in this paper, isogeometric analysis (IGA) was employed to explore the multi-tooth contact problem of the cycloid pinwheel drive. Based on the nonuniform rational B spline (NURBS) curved surface generation method, the NURBS tooth profile of the cycloid gear was reconstructed. In addition, the NURBS surface of the cycloid gear–pin tooth–output pin was generated via the element splicing method. A geometrical analysis model of cycloid pinwheel drive was established to solve the contact force of the meshing pair under different input angles and compared with the finite element method in terms of convergence, resultant accuracy, and solving timeliness. The results show that isogeometric analysis has higher accuracy and efficiency than the finite element method in calculating the contact stress and contact force. The error of the IGA is only 8.8% for 10 × 10 elements in contact, while the error of the finite element method reaches about 40%. The method can improve the contact simulation accuracy of the cycloid drive and provides a reference for the design evaluation of RV reducer.