This paper deals with an optimization methodology for the design of the sheet-metal-forming process. In this study, a new design optimization system is developed which employs an iterative optimization technique and numerical simulation of a sheet-metal-forming process. The main feature of this new optimization method is that it is based on the interaction of high-and low-fidelity simulation models in order to reduce overall computing time. In the iterative optimization procedure, only the corrected low-fidelity model is used. The high-fidelity model, which requires much longer computing time, is used only for the correction of the low-fidelity analysis and validation of the final solution. To demonstrate the developed optimization method on a practical application, it is applied to the optimum blank design for deep-drawing process of a rectangular box. In deep-drawing, the flange of the drawn product is usually trimmed off to obtain the desired product geometry, and the trimmed material is wasted. Therefore, the formulation of the optimization problem is to determine the optimum initial blank geometry which minimizes the amount of the trimmed material, that is, the waste of material. It is confirmed that the blank design was optimized successfully in remarkably short computing time by the developed optimization method.