Abstract: The drive axle is a key load-bearing structural component of a wheel loader, and has a large design margin for static strength, with lightweight design requirements. In this article, a three-dimensional model of the drive axle housing of a certain model of wheel loader is established as the research object. The external loads on the drive axle housing are analyzed, and three typical operating conditions are selected: full-load static, full-load starting, and full-load braking. The types, magnitudes, and loading positions of the external loads under these three conditions are determined. A finite element model of the drive axle housing is established for finite element analysis under these three typical operating conditions. The results show that the maximum stress of the axle housing under full-load static conditions is 234.4 MPa, located in the middle of the half-shaft sleeve; the maximum displacement deformation is 1.837 mm, occurring at the rear center of the axle housing. The condition with the highest stress, namely full-load static conditions, is selected for parametric design, with the thickness parameter of the axle housing shell as the design variable. When the thickness of the axle housing body is reduced from 15 mm to 12 mm, the optimal solution is achieved, with the overall mass of the axle housing reduced from 343 kg to 297 kg, a reduction of 46 kg in overall mass, achieving a weight reduction of 13.41%. The finite element analysis results of the lightweight axle housing show that the structural stress and deformation still meet the design requirements, achieving lightweight design of the drive axle housing.