A method of manufacturing a multi-colored hand tool grip includes a step of forming a grip, a step of forming a lid and a step of completing a finished product. In the step of forming a lid, replaceable submodules are employed to form the lid, able to lower cost of mold making. In the step of completing a finished product, after the grip and the lid are combined together and received in the mold cavity of a third mold set, raw material of a holding portion is poured into the mold cavity to form a different-colored holding portion. By so designing, the lid and the holding portion of different colors can be formed on the grip to let patterns presented more clearly, thus forming a multi-colored hand tool grip.