Injection molding of plastic optical lenses prevails over many other techniques in both efficiency and cost, however polymer shrinkage during cooling, high level of uneven residual stresses and refractive index variations have limited its potential use for high precision lenses fabrication. In this research, we adopted a newly-developed strong graphene network to both plain and convex fused silica mold surfaces and proposed a novel injection molding of plano-concave lenses with graphene coated fused silica molds. The unique combination of the graphene coating and fused silica substrate maximize the mechanical properties of the mold and coating materials, namely high hardness, low surface friction, and high heat preservation effect during cooling since fused silica has low thermal conductivity. This advanced injection molding process was implemented in molding of plano-concave lenses resulting in reduced polymer shrinkage. In addition, internal residual stresses, and refractive index variations were also analyzed and discussed in detail. Meanwhile, as a comparison of conventional injection mold material, aluminum mold inserts with the same shape and size were also diamond machined and then employed to mold the same plano-concave lenses. Finally, a simulation model using Moldex3D was utilized to interpret stress distributions of both graphene and aluminum molds and then validated by experiments. The comparison between graphene and aluminum molds reveals that the novel injection molding with carbide-bonded graphene coated fused silica mold inserts is capable of molding high quality optical lenses with much less shrinkage and residual stresses, but more uniform refractive index distribution.