A deterioration evaluation method includes a determination step of determining a shot peening condition for imparting a maximum residual stress to an object formed of a metal material; a first shot peening step of performing first shot peening on the object under the shot peening condition; a first measurement step of measuring a first residual stress of the object after the first shot peening step; a second shot peening step of performing second shot peening on the object after the first measurement step under the shot peening condition; a second measurement step of measuring a second residual stress of the object after the second shot peening step; and an evaluation step of evaluating deterioration of the object based on the first residual stress and the second residual stress.