Abstract Various process nonhomogeneities in the cold rolling lead to an uneven distribution of deformation across the strip cross-section, resulting in the induction of residual stresses. This study investigates the longitudinal residual stresses in cold-rolled EN AW-5083 aluminum alloy strips using the finite element method (FEM) to achieve reliable predictions. The impacts of process parameters, including the reduction ratio, coefficient of contact friction, and front and back tensions, were analyzed. Changes in residual stresses, depending on the process parameters, were determined by the distribution of linear and shear strains, as well as the strain hardening conditions at the exit part of the deformation zone. An increase in the reduction ratio from 20 to 50%, as well as an increase in the friction coefficient from 0.1 to 0.2, resulted in decreased stress values. The residual stresses on the strip surface, determined by the experimental deflection method, were consistent with the results obtained by FEM simulation. Under the impact of back and/or front tensions, there is a reduction in longitudinal residual stresses, with the front tension exerting the greatest influence. The research results show that the FEM is a reliable tool for predicting residual stresses in cold-rolled strips.