In metal forming technologies, the stamping process is one of the significant manufacturing processes to produce sheet metal components. It is important to design stamping process which can produce sound products without defect such as fracture and wrinkle. The objective of this study is to propose the feasible formability diagram which denotes the safe region without fracture and wrinkle for effective design of stamping process. To determine the feasible formability diagram, FE-analyses were firstly performed for the combinations of process parameters and then the characteristic values for fracture and wrinkle were estimated from the results of FE-analyses based on forming limit diagram. The characteristic values were extended through training of the artificial neural network. The feasible formability diagram was finally determined for various combinations of process parameters. The stamping process of turret suspension to support suspension module was taken as an example to verify the effectiveness of feasible formability diagram. The results of FE-analyses for process conditions within fracture and wrinkle as well as safe regions were in good agreement with experimental ones.