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As parts of different engineering structures, the functioning and behavior of composite materials, particularly metal matrix composites (MMCs), are highly influenced by residual stresses (RSs). The presence of the tensile RS in the matrix accelerates the onset of yielding, while the compressive RS at the interface of the fiber and matrix postpones the damage of the interface. This chapter presents an overview of various aspects related to RS within the MMCs. In particular, the interaction of RS and other factors in controlling the global behavior of MMCs is presented. The failure characteristics of MMCs, initial yield, and collapse behavior for different loadings in the presence of RS are also discussed. The effects of RS on the high-temperature behavior of MMCs and a brief note on possible future trends in research are presented in the last subsections of this chapter.