This utility model discloses a button cover molding die, including a moving die, a first-color fixed die, and a second-color fixed die. The moving die includes a moving template, a moving core, a moving die fixing plate, and a moving die ejection mechanism. The first-color fixed die includes a first-color fixed template, a first-color fixed core, a first-color fixed die top plate, and a first-color fixed die fixing plate. The second-color fixed die includes a second-color fixed template, a second-color fixed core, a second-color fixed die top plate, and a second-color fixed die fixing plate. The moving core has two annular grooves, and at least one side of each annular groove has a moving die ejector groove. A first-
color flow channel connects the two annular grooves. The second-color fixed die includes two recessed annular grooves connected by a lateral flow channel. A protruding annular
retaining ring is provided within each recessed annular groove. This utility model can achieve separate molding of the transparent layer and the aperture layer, resulting in high molding quality and ensuring the product's appearance integrity and light
transmittance.