Residual stress that is mainly caused by heat treatment is one of the important factors in mechanical products such as internal combustion engines, since it affects the maintenance of peak performance and operational durability in competitive scenarios. In past, a phase transformation analysis method, in which volume fraction of 4 phases (Ferrite, Pearlite, Bainite and Martensite) during heat treatment process can be individually taken into account, was constructed for the prediction of residual stress caused by heat treatment such as induction hardening. In this paper, elasto-plastic analysis combines with this and applies to prediction of residual stress of S50C steel crankshaft to verify the validity of this method.