A carbon-fiber plate (CFP) embedded into running shoes is a commonly applied method to improve running economy, but little is known in regard the effects of CFP design features on internal foot mechanics. This study aimed to explore how systematic changes in CFP geometrical variations (i.e., thickness and location) can alter plantar pressure and strain under the forefoot as well as metatarsal stress state through computational simulations. A foot-shoe finite element (FE) model was built and different CFP features including three thicknesses (1 mm, 2 mm, and 3 mm) and three placements (high-loaded (just below the insole), mid-loaded (in between the midsole), and low-loaded (just above the outsole)) were further modulated within the shoe sole. Simulations were conducted at the impact peak instant during forefoot strike running. Compared with the no-CFP shoe, peak plantar pressure and compressive strain under the forefoot consistently decreased when the CFP thickness increased, and the low-loaded conditions were found more effective (peak pressure decreased up to 31.91% and compressive strain decreased up to 18.61%). In terms of metatarsal stress, CFP designs resulted in varied effects and were dependent on their locations. Specifically, high-loaded CFP led to relatively higher peak metatarsal stress without the reduction trend as thickness increased (peak stress increased up to 12.91%), while low-loaded conditions showed a gradual reduction in peak stress, decreasing by 0.74%. Therefore, a low-loaded thicker CFP should be considered to achieve the pressure-relief effects of running shoes without the expense of increased metatarsal stress.