A guided keeper assembly for metal forming dies includes a base having a mounting face and a fastener aperture to mount the base to an associated die shoe, as well as a central guide aperture. A guide pin having a central portion is closely received in the central guide aperture for precisely guiding reciprocal motion between the die pad and the die shoe. The guide pin has an enlarged head at one end which abuts the the-base to positively limit travel between the die shoe and the die pad, and a shoulder at an opposite end with an alignment mechanism that precisely locates the guide pin on the die pad. A fastener extends through the fastener aperture in the base to securely connect the same with the die shoe. Another fastener securely connects the second end of the guide pin with the die pad.