Based on Projection Pursuit Regression Theory (PPRT), a projection pursuit regression model has been established for forecasting the peak value of blasting vibration velocity. The model is then used to predict the peak value of blasting vibration velocity in a tunnel excavation blasting in Beijing. In order to train and test the model, 15 sets of measured samples from the tunnel project are used as the input data. It is found that predicting results by projection pursuit regression model on the basis of the input data is much more reasonable than that predicted by the traditional Sodaovsk algorithm and modified Sodaovsk formula. The results show that the average predicting error of the projection pursuit regression model is 6.36%, which is closer to the measured values. Thus, the projection pursuit prediction model is a practical and reasonable tool for forecasting the peak value of blasting vibration velocity.