Water jet peening can effectively improve the fatigue strength of metal materials, and the outlet shape of nozzle greatly affects the effect of water jet peening. In this paper, the effects of nozzle outlet shape on water jet velocity and impact pressure are studied by numerical simulation, and the jet velocity and dynamic pressure for different standoff distances are also discussed. The results show that the water jets of square, circular, and triangular nozzles are highly concentrated, and the water jet of elliptical nozzles is the most divergent. The axial velocity attenuation of the square nozzle along the axis is slower than that of the other three nozzles. The water axial velocity of the elliptical nozzle attenuates fastest, and the length of the core segment of the water jet is the smallest. Within a certain axial distance, the dynamic pressure area in the central area of the elliptical water jet is obviously larger than that of the other three nozzles, and the effective treatment range is large, which is more suitable for the welding surface strengthening operation.