Thermally-induced deformation in SMC(Sheet Molding Compound) products is analyzed using three dimensional finite element method. Planar fiber orientation, which causes the anisotropic material properties, is calculated through the flow analysis during the compression stage of the mold. Also curing process is analyzed to predict temperature profile which has significant effects on warpage of SMC products. Through the developed procedure, effects of various process conditions such as charge location, mold temperature, fiber contents, and fiber orientations on deformation of final products are studied. and processing strategies are proposed to reduce the warpage and the shrinkage.