The invention discloses a cut velvet fabric shaping finishing process. According to the process, a cut velvet grey fabric woven from wool or blended wool is subjected to edge sewing, fulling, wool scouring, wet teasel raising, shaping pretreatment, shape maintaining treatment, softening finishing, scalding and shearing, decating, drying and detection in sequence, and a cut velvet fabric finished product is prepared; the fabric is subjected to ultrasonic treatment after stripping agent spraying and wetting, and the method of shaping pretreatment that heating is conducted to realize gasificationof the stripping agent so as to shove off wool fiber scales is conducted, so a thick scale layer of wool fiber can be rapidly stripped off; ultrasonic treatment of the grey fabric is combined with spraying and wetting, so the usage amount of the stripping agent is reduced, the number of large bath ratio procedures in the entire process of post treatment is reduced, and the subsequent rinsing waste water amount of the grey fabric is lowered; and wet fuzzing is conducted to realize napping of the grey fabric, fluff on the surface of the fabric fits well and is straight, and the shaping degree of the fluff is improved.