Products from Xanthoceras sorbifolium Bunge seed have gained extensive attention for various applications, especially in the fields of edible oils and industrial applications. In order to study seed kernel mechanical−structural behavior and oil yield mechanisms during extrusion, we set up a self-developed texture analyzer with in situ microscope observation. Test results indicated that seed kernel oil yield and pressing energy showed an approximately parabolic shape under pressing strain, and maximum oil yield reached 25.7%. Only local tissue damage occurred on seed kernels at strain 45−85%, cracks formed from the kernel edge to the inside zone and small cracks obviously increased in number, corresponding with the oil yield and energy−strain curve. The effect of speed on oil yield showed an opposite trend to strain effect; high pressing speed led to lower oil yield due to the short time for oil precipitation and lower pressing energy. Dwell time obviously promoted oil output within 600 s. Drying temperature had a negative effect due to structural change. Oil yield was almost zero at temperatures below 120 °C. The oil yield and pressing energy relation curve was obtained by polynomial fitting; optimal seed kernel oil pressing conditions were strain 95%, 0.1 mm/s, 20 °C, dwell time 600 s. The research provides in-depth theoretical guidance for Xanthoceras sorbifolium Bunge oil production.