The invention discloses a universal joint bell-shaped shell and a machining process. The shell mainly comprises a bell jar section, a first cylindrical segment, a spline segment and a second cylindrical segment, wherein the joint between the first cylindrical section and the second cylindrical section is provided with a smooth rounded corner transition, the material used by the bell-shaped shellcomprises the following components of, by percentage, 54%-68% of Fe, 1.5%-1.8% of Cr, 1.4%-1.7% of Ni, 0.15%-0.21% of C, less than or equal to 0.4% of Si, 0.5%-0.9% of Mn, less than or equal to 0.025%of P, less than or equal to 0.035% of S, 0.25%-0.35% of Mo, the balance impurities, and a blank of the bell-shaped shell is prepared by adding powder of the C, the Si, the Mn and the Mo during drawing and hot forging on a mixed matrix prefabricated by the Fe, the C, the Cr and the Ni. According to the shell, the structure is simple, the hardness is large, meanwhile, the self-lubricating propertyand the wear resistance are achieved, forming grinding is adopted, so that the machining precision on a spherical surface is greatly improved, the running precision is improved, and the service life of the shell is greatly prolonged through a blank drawing and forging forming technology and heat treatment.