A granulator for forming granules of cross-linkable plastic compounds in which a screw extruder extrudes the compound into the smaller diameter end of a funnel-shaped, annular conduit, the other end of the conduit facing a die with circular arrays of through-holes. The compound which passes through the through-holes is cut into granules by rotating blades having air nozzles which remove particles of the compound from the blades. The granules are received in a chamber from which they are removed pneumatically. Where the annular conduit meets the die, there are channels within and outside of the arrays of through-holes which lead to the outside of the granulator and which provide conduits for removal of compound which does not directly impinge on the entrances of the through-holes which are specially shaped to avoid accumulation of the compound between the through-holes.