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This paper describes the results of modeling when the processes of stranding, reduction, straightening and thermo-mechanical treatment (TMT) of prestressing strands were simulated with the help of finite-element method. The distribution of residual stresses used in the simulation models refers to the stresses created at the preliminary stage of wire drawing. The simulation study looked at the effect of thermo-mechanical treatment on the internal wire stresses: residual stresses resultant from the drawing process and further stranding stresses. All studied methods demonstrated a positive effect not only in terms of eliminating internal stresses, but also from the point of view of their redistribution. Reduction of a strand in a solid tool at the ratios of 1–3 % allows to create tensile stresses at the surface of the wire and retain compressive stresses in its core. Straightening in a 5-roller group helped reach a double relaxation in outer wires. TMT, a process combining different physical effects, enabled to control within a broad range the redistribution of residual stresses in steel that was subjected to prior drawing at high deformation ratios. Such residual stresses occur as a result of stranding stresses that accompany the stranding operation and can affect the geometry of the strand. The study showed that tension as a TMT parameter plays a greater role in the elimination of longitudinal residual stresses. That’s why, at the minimum tension, almost no redistribution of residual stresses occur either in the central or in the near-surface layers irrespective of the TMT temperature regime applied. However, when the tension exceeding 70 kN is applied at the temperatures of 380–400 °C, the central and surface residual stresses balance off in the wire or almost disappear. This research was carried out under the Decree No. 220 dated 9th April 2010 of the Government of the Russian Federation (Contract No. 075-15-2019-869 dated 12th May 2019) and was funded by the Russian Science Foundation (Project No. 20-69-46042 dated 20th May 2020) and by the Russian Ministry of Education and Science with the goal of developing high-tech production (contract nos. 02.G25.31.078, December 1, 2015; and MK204895, July 27, 2015).