In this study, an investigation into the factors influencing the die life cycle was prompted by the substantial costs associated with punch and matrix wear in the die used for ventilation hole cutting of the disc component, featuring MW05 material. The study focused on optimizing the life cycle through a series of experiments conducted in two stages. Initially, punch life cycle studies, including geometry and PVD surface coating, were carried out. Subsequently, matrix life cycle studies encompassing hardness, manufacturing method, surface roughness, press tonnage, and alternative material were conducted. The introduction of a flat area around the cutting edge of the punches led to a significant reduction in abrasive wear, while the modification to the punch design, coupled with AlCrN surface coating, effectively decreased adhesive wear on the cutting contour, resulting in an increased punch life cycle. Notably, a transition from wire erosion to milling machining for the matrix cutting contour yielded a substantial improvement in the matrix life cycle. These advancements in die life cycle optimization will serve as vital inputs for new die designs. Quantitative results reveal a 15-fold increase in punch life cycle and a 3.33-fold increase in matrix life cycle, demonstrating the efficacy of the implemented modifications.