Warm deep drawing for optimum forming conditions to give the maximum drawing depth is investigated and compared with the results from experiments performed at room temperature. Experiments which draw square cups of STS 304 stainless steel sheet under the constant lubrication condition of teflon film are made both in a crank and hydraulic press for two kinds of specimens. The maximum drawing depth at warm forming condition reaches 1.4 times the drawing depth at room temperature in a crank press, whereas 1.6 times in a hydraulic press, and also more uniform distribution of thickness in case of warm deep drawn cup is observed. The effects of other factors on formability, such as forming temperature, speed of press and cooling of punch are examined and discussed.