In this study, an optimal design study has been made to determine dimensions of die and multi stress rings for extrusion process. For this purpose, a thermo-rigid-viscoplastic finite element program, CAMPform, was used fur forming analysis of extrusion process and a developed elastic finite element program fur elastic stress analysis of the die set including stress rings. And an optimization program, DOT, was employed for the optimization analysis. From this investigation, it was found out that the amount of shrink fitting incurred by the order of assembly of the die set should be taken into account for optimization when the multi stress rings are used in practice. In addition, it is construed that the proposed design method can be beneficial fur improving the tool life of cold extrusion die set.