Manufacturing of the Autonomous Underwater Vehicle (AUV) is a challenge for researchers because of the hazardous ocean environment. The propeller is the most complex part in AUV because of its elaborately shaped blade designed to increase the thrust. The selection of the manufacturing process, flash-less cold forging die design and optimization of the work-piece are the major issues to reduce the overall cost of the propeller. Numerous investigations have been carried out in this area by many researchers using various tools and techniques. However, cold forging of complex geometries such as the propeller blade is still lacking. Moreover, volumetric analysis and optimization of work-piece have not been reported so far for complex geometries. In this work, the cold forging process is adopted to produce the propeller blade. Three-dimensional finite element (FE) analysis and experimental flash-less cold forging of aluminum blade of the AUV propeller is presented. The work-piece used is of AISI AL6061 and the die material is die steel (AISI D2).Based on the simulation results, the flash-less cold forging is successfully done on a 100 ton C-type machine.