Laser shock processing (LSP) is increasingly applied as an effective technology for the improvement of metallic materials’ mechanical and surface properties in different types of components, mostly as a means of enhancement of their fatigue life behavior. As reported in previous contributions by the authors, a main effect resulting from the application of the LSP technique consists in the generation of relatively deep compression residual stresses fields into metallic components allowing an improved mechanical behaviour. In this paper, the special case of Ti6Al4V alloy is considered from a more fundamental point of view, with specific consideration of the microstructural changes and residual stresses fields justifying those macroscopic effects. From a concrete point of view, the effect of the application of different typical LSP intensities on the microstructure and residual stresses fields introduced in this material and their possible correlation to the associated surface effects are analyzed.