The 2.5D packaging technology is a high–performance method for electronic packaging. This study addresses the reliability issues of 2.5D packaging during the manufacturing process. A multi–physics field coupling Finite Element Method (FEM) has been developed, combined with sub–modeling techniques, to investigate the curing of underfill adhesive, the curing of Epoxy Molding Compound (EMC), and the reflow soldering between the interposer and substrate in a 2.5D packaging entity during various manufacturing procedures. The focus is on the thermo–mechanical–chemical behavior of viscoelastic components within the packaging structure, as well as the viscoplastic characteristics of the micro solder balls and microbumps. A systematic analysis is conducted on the warpage deformation and stress distribution of the 2.5D packaging at crucial time points. The results demonstrate that after curing, the overall warpage of the packaging exhibits a ‘concave’ warpage profile. Additionally, as the thickness of the EMC above the chip increases, the warpage value of the packaging also increases. The warpage value defined by linear elasticity is larger than that defined by viscoelasticity. The maximum Von Mises stress value in the key areas of the submodel is greater than the maximum Von Mises stress value in the corresponding key areas of the global model. After reflow soldering, the stress concentration in the micro solder balls occurs at the edge of the micro solder ball array. The maximum stress values for each component of the packaging are observed in the interface areas between the components. Packaging components that undergo the curing process have notably higher warpage and Von Mises stress values than those that do not undergo the curing process. The simulation method established in this study can accurately predict the warpage deformation and stress distribution state of 2.5D packaging, providing significant engineering application value for process optimization and reliability enhancement of 2.5D packaging in the production process.