Shot peening is a complex cold working process used to improve the fatigue life of metallic parts. This investigation is devoted to the modeling and simulation of the residual stress field resulting from the shot peening process, in which the finite element method was employed using a rate sensitive material. The history of energies during explicit dynamic analysis was discussed and the solution time for explicit analysis was analyzed. For the single shot impact model, the effect of shot velocity, shot size, incident angle was studied. In addition, the effect of repeated impacts on the residual stress within the target plate was studied. Furthermore, the multiple shot impacts of shot peening process were accomplished and the effect of peening coverage was investigated based on different shot models.