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Conversion electron Mössbauer spectroscopy (CEMS) and x-ray diffraction (XRD) analysis have been used to investigate the relationship between characteristics of phase transformation and the treatment time in surface nanocrystallized 316L stainless steel induced by surface mechanical attrition treatment (SMAT). A similar trend of development of the martensitic phase upon the treatment time has been observed from both CEMS and XRD measurements. However, in the CEMS measurement, two types of martensite phase with different magnetic hyperfine fields are revealed. Based on a random distribution of the non-iron coordinating atoms, a three-element theoretical model is developed to illustrate the difference of two types of martensite phase. The calculated results indicate the segregation of the non-iron atoms associated with SMAT treatment.