A method and apparatus for making insignias with a raised design is capable of providing more aesthetic appearance to the insignias thus made. A base material consisting of a base sheet and a surface sheet overlaying the base sheet is prepared for making into an insignia. The base material is coating with a surface coating of decorative material. A bottom mold and an upper mold are used to press the base material to form raised design of patterns. The bottom and upper molds are coupled to a composite heating device including high-frequency induction and electric heating means for applying both high-frequency induction heat and electric heat to the base material while the upper molding is being pressed against the bottom mold. The upper mold is formed with a plurality of edge-defining blades for cutting an edge for the insignia, a plurality of pattern-defining blades for forming a pre-designed pattern on the insignia. During the pressing, the composite heat is concurrently applied to the upper and bottom mold so as to cut and melt away part of the surface sheet to form the pattern. The remnants cut away by the pattern-defining blades can be easily removed by brushes. The final product is an insignia with raised design of patterns with shining appearance.