Cold forging dies are manufactured through the shrink fit process to withstand high pressure loads, but fatigue failure eventually occurs due to repeated compressive stresses. The life cycle until fatigue failure was defined as the limit life, and attempts were made to predict the die life based on finite element method (FEM). However, accurate prediction was impossible owing to uncontrollable environmental variables. Consequently, it is impossible to clearly determine the die replacement cycle, resulting in negative consequences such as poor quality, production delay, and cost increase. Various environmental factors affecting the prediction of die life cycle result in the increase or decrease of the forming load, which is an important variable that determines the die life cycle. In this study, a system for monitoring load data generated from forging facilities was developed based on a piezo sensor. In addition, the die life cycle was more accurately predicted by using the forming load data measured in real time, and a die life management system that can determine the die replacement cycle was applied to the automobile steering parts production line.