Based on two-part cutter head, the mathematical model of epicycloid hypoid gear pair was built through face-hobbing cutting method and generating principle. The relationship between assembly misalignment and meshing behavior was described by the results of tooth contact analysis. In the situation of transmission performance requirements, the parameters of wheel blank and processing parameters were designed. Based on a pair of epicycloid hypoid gears, the influence of each assembly misalignment on the meshing and transmission performance was analyzed.