An iron cover for ski wax irons a heat resistant liner having a padded bottom segment shaped to cover and protect the sole of an iron and a plurality of side flaps with ends. The side flaps extend sufficiently around the sides of an iron placed within the liner, and are secured around the iron with an elastic cord associated with the side flaps. The side flaps are structured and separated to define a plurality of heat release vents to allow heat to escape from a hot iron placed in the cover for storage.