A dynamic crankshaft fillet rolling model was established, based on the analysis of the fillet rolling process by using the LS-DYNA module of the ANSYS software, and it was used to analyze the effects of the process parameters on the plastic deformation and residual stress in the fillet area. The research results show that the plastic deformation and residual stress in the fillet area increase with the increasing rolling turns under the fixed rolling load, but its change rate would not be obvious again once the rolling turns reached a certain value. Whereas the growth rate of the plastic deformation and the residual stress decrease continuously with the increasing rolling load when the rolling turn was fixed. The research result can provide a theoretical basis for the selection of crankshaft rolling process parameters.