Metallic thin-walled sheets are widely used in fields of biology, medicine, and energy. However, the residual stress generated during forming and processing severely affect their fatigue strength and structural stability. This paper proposes a method to control residual stress using pulsed strong magnetic fields: placing the workpiece in a pulsed magnetic field and injecting high-frequency oscillating current through it. The oscillating electromagnetic force (OEF) acts on the surface of the sheet, causing plastic deformation and releasing the residual stress in the elastic zone. The oscillating current stimulates dislocation migration and rearrangement, which helps to release the residual stress within grains. Experiments show that under the action of 22 kHz oscillation, the residual stress on the side wall and bottom of the sheet is reduced by 43% and 56% respectively, and the forming height is increased by 9.25%. By comparing the effects of single pulse and different frequencies of oscillation, the reasons for the differences in forming height increase and residual stress reduction are analyzed. This method is highly effective in eliminating residual stress in metallic thin-walled sheets.