The fatigue properties of laser peened aluminum alloy 7050 specimens with fastener holes were investigated. The surface profile and residual stress induced in the shock affected zone were characterized. Then, the fatigue specimens with notch were treated by laser peening (LP), and the fatigue lifes of LP-treated specimens were measured and compared with base materials without LP. The results indicated that LP improved the fatigue lifes of all tested specimens. The average fatigue lifes of specimens treated by LP before hole-drilling were 173% longer than those of untreated samples and had better effects than those specimens treated by LP after hole-drilling.