This study presents a comprehensive study of the microstructure, mechanical characteristics, and surface roughness of Cr-Mo-V low alloy steels and a detailed investigation of the overall impact of shot peening (SP). The microstructure was examined using the optical and scanning electron microscope, showing a significant grain size decrease after shot peening. Evaluations of mechanical characteristics, such as microhardness and tensile strength, showed a noteworthy rise, suggesting enhanced material strength. Studies using fragmentography shed more light on changed fracture tendencies. X-ray diffraction technique (XRD) was used to measure residual stress distribution, and the outcomes displayed an increase after SP, which suggests that internal stresses were created. Surface roughness measurements also showed a noticeable decline, indicating better surface quality. The transformational effects of shot peening on Cr-Mo-V low alloy steels were highlighted by comparative investigations with base metals, providing insights into enhancing material performance for various engineering applications.