High frequency mechanical impact treatment is observed to increase the fatigue strength of welded joints. This technique induces compressive residual stresses, increases the local hardness, and reduces the stress concentration by modifying the weld toe radius. The goal of this study was to investigate residual stresses induced by ultrasonic impact treatment in S355, S700MC, and S960 grades steel experimentally and numerically. Plate specimens were manufactured and treated with different treatment intensities i.e. vibration amplitudes of the Sonotrode. The indentation depths were measured by the aid of a laser scanner and residual stresses using X-ray diffraction technique. The effect of steel grade and treatment intensity on the induced compressive residual stress state was firstly studied experimentally. In addition, displacement controlled simulations were carried out to estimate the local residual stress condition considering the effect of different material models. Both the numerically estimated and experimentally measured residual stresses were qualitatively in good agreement. Residual stress state in S355 and S700MC can be estimated well using combined strain rate dependent material model. No significant effect of the treatment intensity is observed on the indentation depth and residual stress state for S355 grade steel. The indentation depth decreases with the increase in the yield strength of the steel.