The invention discloses a groove milling method and a groove milling die for a conductive contact finger. A conductive contact finger barrel-shaped blank is fixed on the groove milling die through a mandrel and front and rear chucks; ring grooves into which the two ends of the conductive contact finger barrel-shaped blank are correspondingly inserted are formed on the rear end face of the front chuck and the front end face of the rear chuck; in the milling process of barrel wall through grooves, the conductive contact finger barrel-shaped blank is fixedly sleeved on the groove milling die through the front and rear chucks; the rotation angle of the conductive contact finger barrel-shaped blank is controlled by a dividing head; and the through grooves on the barrel wall of the conductive contact finger barrel-shaped blank can be machined in sequence as long as a milling cutter is aligned with a milling cutter groove on the groove milling die. By the milling method, the machining accuracy of the through grooves on the barrel wall of the conductive contact finger is high; the groove milling die supports the inner wall of the conductive contact finger barrel-shaped blank during machining, so that the barrel wall of the conductive contact finger is effectively prevented from being deformed due to acting force applied by the milling cutter during milling, the yield of products is improved, and the production cost of the product is reduced.