A common consensus is that an optimized curve profile of the stroke ring in the multiple-stroke piston motor can make the output torque more stable. However, the ring generates elastic deformation during operation, which causes the piston component movement trajectory to deviate from the ideal design curve. To address this issue, first, a liquid–solid coupling simulation model was established to obtain the deformation of the ring, and the accuracy of the model was verified through experiments. Second, a stroke ring curve design method based on elastic deformation pre-compensation was proposed. Through this method, a compensated curve can be obtained to make the actual working curve more in line with the ideal curve. Finally, the dynamic characteristics of three different types of multiple-stroke piston motor curves were analyzed—the ideal design curve, the uncompensated working curve, and the compensated working curve. The results showed that the motor torque pulsation rates are 0.821%, 4.723%, and 0.986%, respectively, and the compensated working curve has a relatively reduced pulsation rate of 79.12% compared to the uncompensated working curve, which verifies that this design method can effectively improve motor performance.