Large wave depth bellows play a critical role in high-end equipment due to their superior elastic compensation performance. To fabricate large wave depth bellows with excellent elasticity and fatigue life, this study proposes a hydraulic secondary forming technology for large wave depth bellows, integrating the finite element method with empirical formulas. By optimizing the solid solution time of raw materials, the heat treatment process parameters of ultra-thin- walled stainless steel pipe blanks were obtained, providing a basic condition for the secondary forming of corrugated pipes. Assuming that the micro total strain of the material is equivalent to the macroscopic elongation after fracture, the parting parameters for each forming pass were designed by controlling the forming deformation of the material in each pass. The application of this process technology has surpassed the material’s room temperature plasticity limit, achieving a wave depth ratio of 1.86 for stainless steel corrugated pipes with a forming qualification rate exceeding 90%. The product’s appearance, size, and performance meet the requirements for engineering applications.