<p>This study presents a comprehensive experimental investigation for utilization of ultrasonic vibrations on the formability of materials in deep drawing process. For this purpose, a novel die system was designed, constructed, and mounted on an in-house developed servo press. The developed system enables application of high-frequency vibrations at various amplitude levels onto the blank holder in axial direction. Conventional and ultrasonically assisted cup drawing experiments were carried out on cold-rolled low carbon steel sheets of DC01 and DC04 using crank and soft motion scenarios with application of three levels of preloading under dry and lubricated surface conditions. The effects of process parameters on limiting drawing ratio (LDR), cup depth, and forming load were analyzed and compared for conventional and ultrasonically assisted drawing operations. The results revealed that application of ultrasonic vibrations in deep drawing significantly improved LDR and cup depth with considerable reduction in forming load, regardless of amplitude level of vibrations, amount of blank holder force, motion scenario, material type or surface condition. Under certain processing conditions, increase in LDR by up to 17% and cup depth by up to 50% with reduction in forming load by up to 32% was achieved with implementation of ultrasonic vibrations by means of the developed die system.</p> Graphical abstract <p></p>