In this study, the notch effect of different types of 304 stainless steel rod notch is studied because of the problem of difficulty in measuring the notch root strain of 304 rod stainless steel, and the parameters of the annular notch root are analyzed. The notch angle, notch depth, and notch root radius are the main parameters of the stress field affecting the annular notch, and the mathematical expression of the strain rate concentration factor is derived. In order to verify the accuracy of the theory, the mechanical model of 304 stainless steel bar is established by finite element and numerical simulation calculation. The results show that the theoretical and finite elements have a high degree of agreement. When the notch angle increases, both theoretical and finite elements show a downward trend. When the notch depth of 304 stainless steel bar increases, both theoretical and numerical simulations show an increasing trend. The notch root radius of 304 stainless steel bar increases with decreasing numerical simulation.