Shot peening technology is used to improve the fatigue strength of materials and parts, and is one of the most effective surface engineering techniques to prolong fatigue life. In this paper, according to the finite element simulation analysis of shot peening, a randomly distributed multiple-shot finite element model was established. The superimposed effects of multiple projectile impact craters in shot peening are fully considered. The effects of shot velocity, shot peening angle and shot coverage on the residual stress field and surface roughness were studied. The alloy steel 20MnTiB, widely used in the automotive industry, was used as the raw material to process the specimens. The shot peening tests of different process parameters were carried out. The test results verified the correctness and accuracy of the random distribution model of multiple-shot. The shot-peening simulation model proposed in this paper allows a more accurate analysis of the effect of shot-peening parameters on the surface residual stress field and helps to quickly set the correct shot-peening process parameters. This paper further investigates the effect of shot peening parameters on fatigue life, providing a basis for the rational development of shot peening solutions.