Shot peening is a widely used cold-working process. Physical phenomena of shot peening are analyzed using the developed fluid-particle-structure coupled solver. The influences of the flow field and shot peening parameters such as the shot impact velocity and shot size are investigated in the case of the falling, impacting, and rebounding single particle. The weakly coupled solver applies the immersed boundary method which enables direct evaluation of the interactions between the unsteady flow field and moving/deforming objects. The elastoplastic object of AISI4340 during the collision of rigid steel shot is analyzed dynamically using the finite element method. Consequently, it is clarified that the flow field of the post-collision between the shot and structure can be characterized by the relative Reynolds number, which is based on the shot diameter and relative velocity between the uniform flow and rebounding shot velocities. As the relative Reynolds number increases, the complex flow field and vortex structures are generated at the collision location. These fluid structures affect the collision phenomena resulting in the random behavior of the shot and the asymmetric indentation in the structure.