The study deals with the energy-saving process of hot open die elongation forging of heavy steel forgings on an 80 MN industrial hydraulic forging press. Three innovative energy-saving power supply solutions useful for industrial hydraulic forging presses were analyzsed. The energy-saving power supply of hydraulic forging presses consists in reducing electricity consumption by the electric motor driving the pumps, reducing the noise emitted by pumps and reducing leaks in hydraulic piston cylinders. The predicted forging force as a function of heavy steel forging heights for various deformation temperatures and strain rates was determined. A simulation model of the 80 MN hydraulic forging press is presented, which is useful for determining the time-varying parameters during the forging process. An energy-saving control for the hydraulic forging press based on the forging process parameters’ prediction has been developed. Real-time model predictive control (MPC) was developed based on multiple inputs multiple outputs (MIMO), and global predictive control (GPC). The GPC has been implemented in the control system of an 80 MN industrial hydraulic forging press. The main advantage of this control system is the repeatability of the forging process and minimization of the size deviation of heavy large steel forgings