The invention discloses machining equipment for improving machining the precision of an injection mold and a machining method thereof. The machining equipment comprises a machining frame, a lower mold, an upper mold, a cooling plate, a pressure sensor and a temperature sensor, the lower mold is fixedly mounted at the top of the machining frame, the upper mold is arranged on an upper cover of the lower mold, and a material injection opening is formed in the middle of the top of the upper mold. The sealing pressure intensity between molds is detected through sensing detection of the multiple sets of sensors, so that the phenomenon that injected materials rapidly flow into gaps between cloth and mold grooves, and hollowing bubbles are greatly reduced are too loose and overflow is generated isavoided, negative-pressure air suction is conducted in the dies, injected materials can rapidly flow into gaps between cloth and die grooves, the phenomenon of hollowing bubbles is greatly reduced can be avoided, and the machining precision is effectively improved; and the temperature sensor is used for detecting the temperature of the material injection opening, after the temperature of the material injection opening is lower than a set value, a processor starts an electric heating sleeve to heat the material injection opening, and thus, the situation that normal circulation cannot be achieved due to the too low melting material injection temperature is avoided.