Shrink fitting of forging mold (SFFM) is an effective method for improving mold strength, extending the mold’s service life and reducing the manufacturing cost of forging mold. However, due to the asymmetric geometry and complex stress distribution, the precise design of SFFM for the precision forging of noncircular bevel gears is very difficult. In this paper, a new precise design method of SFFM for the precision forging of noncircular bevel gears is proposed, which mainly includes the following five parts. First, a new design method for the mold parting surface—the curved surface parting method—is proposed to design the forging mold of noncircular spur bevel gears. Then, new dimension design methods for the gear mold and shrink rings based on the uniform shrinkage force are proposed. Third, a new design method for the inhomogeneous interference value between shrink rings and the gear mold is developed to provide a precise, uniform shrinkage force. After that, a strength correction method for the shrink-fitted gear mold is proposed to ensure the gear mold and shrink rings have sufficient strength both in the assembly process of the shrink-fitted gear mold and precision in the forging process of noncircular spur bevel gears. Ultimately, finite element simulations and verification experiments are performed to verify the proposed precise design method of SFFM for the precision forging of noncircular bevel gears. The precise design method of SFFM proposed in this paper is not only applicable to the precise design of the high-strength gear mold for noncircular bevel gears, but can also provide a valid reference for the precise design of the high-strength mold for other complicated asymmetric parts.