The gas-assisted co-extrusion molding technology is a new polymer processing molding process integrated with the gas-assisted technology. In the paper, we experimentally explored the effects of several key factors of the gas-assisted co-extrusion molding process with plastic profile on the formation of the stable gas layer. Experimental results showed that in the proper pressure range, the stable gas layer was formed. The relatively lower or higher pressure was not conducive to the formation of the gas layer. The optimal air temperature for the formation of the stable gas layer was close to the melt temperature. In addition, the die temperature, the gas layer thickness, the melt flow, material properties, the external force, and the opening sequence of the extruder screw and pneumatic valve showed the significant effect on the formation of the gas layer.