With the recent advances in numerical simulation capabilities and computing technology, finite element method (FEM) can be applied to predict the performance of a precision aspherical lens molding process. In this paper, various stages of the lens molding process have been modeled using a commercial FEM code MSC MARC. Stress relaxation effect during the forming stage has been incorporated into the numerical model by using a generalized Maxwell model. Successful comparison of the predicted results has been made with the experimental data. The various aspects of the simulation that would enable a more realistic modeling of the process have been identified for future research.