The invention belongs to the technical field of pipe fitting processing, and relates to a pipe fitting cold extruding forming machine and a forming technology of the pipe fitting cold extruding forming machine. The forming machine comprises a frame, a mold locking oil cylinder, an ejection oil cylinder, pushing oil cylinders and auxiliary oil cylinders, and the mold locking oil cylinder, the ejection oil cylinder, the pushing oil cylinders and the auxiliary oil cylinders are arranged in the frame. A through work platform is arranged in the middle of the frame, the ejection oil cylinder is arranged at the position, below the work platform, in the frame, the mold locking oil cylinder is arranged at the position, corresponding to the position above the work platform, in the frame, the pushing oil cylinders are arranged at the positions, on the two sides of the work platform, in the frame respectively, and the auxiliary oil cylinders are arranged on the mold locking oil cylinder and the pushing oil cylinders respectively. In the work process, a lower workpiece mold is placed on the work platform, the mold locking oil cylinder is connected with an upper workpiece mold, the two pushing oil cylinders are connected with water injection devices respectively, the water injection devices are connected with a workpiece in the pushing process, and sealing contact is achieved. A three-way reducing pipe is formed based on the cold extruding technology, operation and forming are easy, environmental protection and high efficiency are achieved, safety is high, and the labor intensity of workers is lowered.