A cast iron brake caliper with improved fatigue life, and a process and process equipment for pre-stressing a cast iron brake caliper to provide improved fatigue life, is provided. In the process, a load is applied to a cast iron caliper, where the load is high enough to locally yield and plastically deform the cast iron material, but not high enough to cause material failure, such as cracking. Upon load removal, residual compressive stresses in the cast iron caliper lower the mid-point of the stress range the plastically-deformed region of the caliper sees during in-service use, and thereby lowers the peak stress seen in this region, increasing fatigue life. The process permits a cast iron brake caliper to be designed to use less material and thus fit within constrained wheel rim envelopes, without the need to resort to high cost materials or other alternative design strategies.