This paper presents the stress and displacement characteristics of oil pipe using the finite element analysis. Displacement in axial direction and von Mises stress of a pipe were analyzed with three design factors, which are the pipe thickness, the corrugation pitch and the corrugation height, under uniform oil pressure. The FE computed results are presented between a conventional round pipe and a rectangular pipe, which is manufactured in this study. The computed FE results show that maximum displacement in axial direction and von Mises stress of pipe are increased linearly as the oil pressure increases. Also, they are increased linearly as the corrugation pitch, corrugation height and pipe thickness increases. von Mises stress of a rectangular pipe at the edge increases sharply compared with that of a conventional round pipe. Therefore, the strength of rectangular pipe is superior to that of a conventional round pipe.