An emerging process named laser compound forming of plate was presented by analyzing the advantages of laser thermal-stress forming (LTF) and laser peen forming (LPF) respectively. This technique combined the heat effect of continuous laser and mechanical effect of pulsed laser. Based on introducing the process of laser pre-stressed compound peen forming, the mechanism of plastic deformation and residual stress were analyzed. In order to apply pre-stressed load, a CO2 laser was used to scan SUS304 stainless plate according to the designed tracks firstly, the basic shape were formed and the contours of plate’s surface were measured by the optical scan measuring system, reverse engineering software Imageware was used to establish the virtual models of plate. Then the virtual models were inverted into finite element models by FEM code ABAQUS. The optimum distribution of residual stress field was obtained by adjusting laser parameters and controlling tracks of LPF. Finally, the optimized laser parameters and processing condition were used for LPF experiment. The results indicated that the anticipated shape could be obtained, and both side of the plate hold residual compressive stress after laser compound forming.