In this paper, the elastic deformation of cold forging die has been investigated to improve the accuracy of forged parts with FEM analysis and experiments using the strain gages. In the finite element analysis, two types of analysis are used to predict elastic deformation of die. The one is that dies are considered to be elastic body from initial stage to final one, and the other is that the dies are considered to be rigid body during forging simulation and then considered to be elastic body at elastic analysis. Considering the results of analysis and experiments, it is likely that the analytical results are in good agreement with experimental inspections. The method using the elastic assumption of die relatively takes a lot of time to simulate the forming operation. However, It is better that using an elastic die to predict not only the shape of product but also filling of die cavity