Cold forging technology of a gear product is being interested in the dimensional accuracy, high stiffness and reduction of stress concentration. Especially it is needed to avoid the damage due to extremely high local pressure. Therefore it is important to reduce the high pressure in die design of cold forging. In this study, single die insert type and splitted die insert type are considered to recognize the notch effects in the die of sprocket forming. The stress concentration has been released at the notch area by the cushion effect in the splitted die insert.