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Seventy percent of new product cost is committed in the design phase. Therefore, the cost needs to be minimized. Incorporating accurate cost estimation capabilities into manufacturing processes can help industries to minimize the cost and optimize the design. The casting process has been employed as a key process to manufacture parts having the advantage of low cost and customized products in foundry industry. This paper presents a cost estimation system for the casting process based on the design features, which incorporates the casting information at the design stage of castings. It aims to deliver the best cost-effective choice for casting design features of a product. Two kinds of knowledge, namely economical knowledge (describing the relation between the casting design considerations and the cost) and technical knowledge (involving the material of the casting features) were structured in this research work. On the basis of the minimum product cost, casting material selection can be carried out in detail. The developed system has been validated through an industrial case study.