Plastic lens arrays (PLAs) have the advantages of a light weight and a compact size. However, their optical performance is often degraded by warpage, caused by the accumulation of residual stress during the injection molding process. Accordingly, the present study employs mold flow analysis simulations and a Taguchi‐Gray relational analysis (GRA) framework to optimize the processing parameters of the injection compression molding (ICM) process. The analyses focus specifically on the effects of the mold temperature, melt temperature, injection velocity, packing pressure, packing time, and compression gap on the optical path difference (OPD) and lens center displacement (LCD) of the fabricated lens array. The results confirm that the optimized processing parameters significantly improve the OPD, LCD, birefringence, and imaging properties of the PLA compared to those of a PLA fabricated using standard molding conditions.