Based on the peak distribution analysis of stationary stochastic process, the general expression for the peak probability density function of a stress process is described. A method for analyzing distribution of peaks of stochastic process is proposed by studying the distribution of peaks in a stochastic process. In the method, the probability density function of a stochastic process is described from the spectral density function of the stochastic process. S. O. Rice gave the probability distribution of a single peak of a stochastic process, these results were extended to derive the behavior of two peaks in this paper. A special case, stationary, zero-mean Gaussian process was given. By using the method proposed in the paper, a desired effect was achieved, which laid a good foundation for the fatigue damage and fatigue life research.