Four typical models were established in the finite element software MARC based on theoretical analysis of honeycomb paperboard crush. The analysis of nonlinear crush process subjected to axial load was carried out based on yielding theory and quasi-static analysis. The process was divided into four steps, linear elastic, elastically plastic, plastically collapsing, and densifying. The result showed that the equivalent stress in the models and shear stress constantly increases in response to the increase of core-paper quantity under the condition of less core-paper quantity. The crush process was verified by experiment.