The present invention provides a silicone-based ocular prosthesis. In one aspect, the prosthesis includes a posterior sclera portion fabricated from a white-tinted silicone material. The sclera portion is formed from a molding process. The prosthesis also includes an anterior iris portion placed on the sclera portion. The prosthesis further includes a transparent layer over the sclera portion and the iris portion to provide a protective coating, and depth to the eye. Finally, a clear coat finish may optionally be applied to the prosthesis to create a realistic, wet look. A method for making the silicone-based ocular prosthesis using a molding process is also provided herein.