The manufacturing process of cold-formed steel members induces cold work which has a significant effect on their structural behavior and strength. In order to assess this cold-work effect, residual stresses and equivalent plastic strains need to be quantified. A finite element-based method was recently proposed by the authors [1] for the prediction of residual stresses and strength enhancement in cold-formed steel elliptical hollow sections. In the present study, this finite element-based method was employed to carry out a parametric study in order to generate numerical data of residual stresses and equivalent plastic strains in cold-formed steel elliptical hollow sections for a wide range of section sizes and steel grades. By analyzing these numerical data, a simplified residual stress model is proposed for cold-formed steel elliptical hollow sections. This simplified model can be employed to define the initial state of cold-formed steel elliptical hollow sections in a nonlinear finite element analysis for the buckling behavior.