Effect of ultrasonic impact treatment on ultra high cycle fatigue properties of SMA490BW steel welded joints was studied from the aspects of stress concentration of weld toe, residual stress distribution, and surface grain size. The results show that the ultrasonic impact treatment can significantly improve the high cycle and very high cycle fatigue strength of welded joints. After treated by ultrasonic impact, the stress concentration factor of weld toe is decreased by 19.1%. And residual tensile stress of weld toe is eliminated, which change into the beneficial residual compressive stress. Residual compressive stress increases the fatigue crack propagation threshold, inhibiting the expansion of early fatigue crack, so as to effectively prolong the fatigue life of welded joints. The surface grains of weld toe can be refined by ultrasonic impact treatment, and nanocrystalline structure with random orientation distribution can be obtained. Grain refinement and work-hardening effects cause the increase of microhardness on surface.