In this article, we discuss a mechanical model for structural and remodeling analysis/simulation of cancellous bone, that takes into account tissue microstructure and residual stress. A three-dimensional lattice continuum is used as a structural model of cancellous bone with trabecular architecture, and its mechanical behavior is investigated concerning the dependence of structural parameters on the apparent mechanical properties of the tissue. Assuming the local uniform stress state to be an optimal stress state realized at the remodeling equilibrium, a remodeling rate equation is proposed to express the stress regulation process at the microstructural level for the three-dimensional lattice continuum. In terms of the lattice continuum, a vertebral body is modeled based on quantitative measurements of the trabecular architecture of the cancellous bone, and a remodeling simulation is conducted under the conditions of repetitive bending with compression. By comparison of the obtained distributions of the residual stress and the volume fraction with the experimental observations, the validity of the proposed model in predicting the adaptive remodeling of cancellous bone using a three-dimensional lattice continuum is demonstrated.