Shot peening is a widely used surface treatment method by generating compressive residual stress near the surface of metallic materials to increase fatigue life and resistance to corrosion fatigue, cracking, etc. Compressive residual stress and dent profile are important factors to evaluate the effectiveness of shot peening process. In this paper, the influence of dimensionless parameters on maximum compressive residual stress and maximum depth of the dent were investigated. Firstly, dimensionless relations of processing parameters that affect the maximum compressive residual stress and the maximum depth of the dent were deduced by dimensional analysis method. Secondly, the influence of each dimensionless parameter on dimensionless variables was investigated by the finite element method. Furthermore, related empirical formulas were given for each dimensionless parameter based on the simulation results. Finally, comparison was made and good agreement was found between the simulation results and the empirical formula, which shows that a useful approach is provided in this paper for analyzing the influence of each individual parameter.