As a kind of special energy field assisted plastic forming, electric pulse assisted plastic forming combines multiple physical fields, such as thermal, electrical, magnetic and mechanical effects, has multiple effects on metal. It has a good industrial application prospect in the fields of directional microstructure regulation of materials and preparation of new materials. The flow stress of metal materials can be effectively reduced by electro-pulse assisted forming. The action mechanism of pulse current includes thermodynamics (Joule heating effect) and kinetic (pure electro-plastic effect or athermal effect). Thermodynamically, electric pulses can be used to provide the energy for dislocation migration and atomic diffusion, and aid in microstructure changes such as recrystallization, phase transition and microcrack healing of metals. In terms of dynamics, electric pulse has an effect on the speed and path of dislocation structure evolution. On this basis, a series of theoretical models for accurately predicting the flow stress of materials in electrically assisted forming process were formulated by combining the stress-strain constitutive relationship considering the temperature rise effect and the pure electro-plastic effect. The accuracy of the predicting model is greatly enhanced by the introduction of electrical parameters. The mechanism for electrically assisted forming was further revealed.