The invention relates to a hot impact extrusion process and a device for a large annular barrel type forged piece, which belongs to the technical field of hot forming of a large hollow forged piece. The process comprises the following steps: firstly, an extrusion cushion is placed on a press platform; secondly, the blanks to be heated are put on the extrusion cushion; thirdly, an extrusion cylinder is sleeved on the extrusion cushion; fourthly, a profiling punch is applied with force so that a mold cavity is filled with the blanks; fifthly, the lubricant is added; sixthly, a solid punch is applied with force so that the blanks are extruded to the set position of the process; seventhly, a hollow punch is sleeved on the solid punch and applied with pressure, so that the blanks are extruded to the set positioned of the process; eighthly, the extrusion cushion is taken out and a bottom flushing drain cap is replaced; and ninthly, the core material at the bottom is flushed out through the hollow punch. The devices required for finishing the process comprise an extrusion cylinder, an extrusion cushion, a profiling punch, a solid punch, a hollow punch, a solid extension rod, a hollow extension rod and a bottom flushing drain cap. The invention solves the difficult problems existing in the large annular barrel forged piece of long process flow of free forging, more forging times and large reverse extrusion molding for die forging and improves the utilization ratio of the material and the molding quality of the forged piece.