The power steering hose is a kind of high-pressure hose with reinforced braids in rubber material. It is usually manufactured through the swaging process. In this paper, the deformation characteristics of a power steering hose during the swaging process were analyzed using the nonlinear finite element method. The material properties were obtained on experiments, and the contact conditions were used in consideration of real manufacturing process. Investigations were focused on the stress and strain values of the hose and meta] components at the maximum jaw stroke and at the completion of the process. Especially, the results of inner rubber component were interpreted in detail, because of its important role in the hose efficiency.