The effects of the peening conditions on the surface characteristics and fatigue strength of stainless steel were investigated by microshot peening (MSP). In recent years, MSP technology has attracted attention. The use of MSP technology with minute media has become more widespread in consideration of the reduction of the notch effect in the material surface. However, the effect of MSP technology on stainless steel has not been much studied. In the present study, an air-type machine was used. The media used was high-carbon cast steel (490 HV) and Fe-Cr-B alloy (1130 HV), with an average diameter of 0.1 mm. The peening time was in the range of 0 - 100 s. Four types of stainless steels, SUS304, SUS304L, SUS316, and SUS316L, were tested. The workpieces were annealed at 1100 K for 1.2 ks in air. In the measurement of fatigue strength, the workpieces were machined in hour-glass shape. As the results, surface roughness of the workpieces treated by MSP was small. Work hardening was evident to the depth of approximately 0.2 mm from the surface. This depth was about twice the diameter of shot media. However, the effect of the peening time on the hardness distribution was not large. The compressive residual stress was added in the surface vicinity. It is assumed that the fatigue limit had increased because the work hardened layer was formed near the workpiece surface.