<p>Conventional production of bearing races relies on multi-stage forging or machining of individual rings, leading to high material waste, flash formation, and die wear. This study introduces a novel flashless dual-ring forging process capable of forming both inner and outer bearing races in a single stroke. The process was designed and optimized through finite-element-based numerical simulation, benchmarked against validated literature data to ensure model fidelity. A comprehensive parametric study was then conducted to evaluate the coupled effects of preform geometry, circular web thickness, and location on strain distribution, press load, and cavity filling. The optimized configuration achieved full cavity filling without laps or folding defects, while reducing material waste from 34% in conventional routes to 15%. Simulated press forces and die stress distributions showed strong agreement with experimental forging trials, confirming the predictive accuracy of the developed model. Experimental validation using a custom-manufactured die and 100-ton press demonstrated excellent conformity between the numerically predicted and actual cross-sections of the forged parts. The proposed single-stroke dual-ring die concept represents the first experimentally verified framework for flashless bearing race forging, offering up to 40% reduction in waste, lower energy consumption, and extended die life. The findings establish a transferable methodology for sustainable and high-precision production of concentric ring components in industrial applications.</p>