Key components of the existing external meshing dorsal spine plunger-type molding machine were modeled in three dimensions, and the fatigue life analysis of the molding machine spindle was carried out by using Ansys software. Due to the nonlinear mechanical behavior of the material ring mold, and pressure roller in the granulation process, there are a lot of contacts and collisions. Using the linear mechanics model is difficult to analyze. To achieve more accurate and realistic results, an Edem-Ansys joint coupled simulation was carried out for the pressure roller and ring mold engagement process. The results showed that the stress concentration point and fatigue weak region of the spindle occurred at the shaft cross-section, where the stress value should be less than 0.75 F. The maximum stresses and strains in the engagement process of the pressure roller and the ring die body occurred at the engagement point. The maximum values of deformation, stress, and strain were 0.039 mm, 412 MPa, and 0.002 mm/mm, respectively, which are all within the reasonable range and meet the design requirements.