The fatigue characteristics and condition assessment of ethylene propylene rubber (EPR) power cables used in wind turbines, which operate in complex environments characterized by electrical, thermal, and torsional stresses, have not received sufficient attention. This study investigates the aging characteristics of wind power cables under the combined effects of thermal stress, electrical stress, and torsional stress, using extracted characteristic parameters to evaluate the insulation’s operational condition. Initially, cable samples underwent artificial accelerated aging under thermal, electrothermal, and electrothermal-torsional conditions. The partial discharge (PD) characteristics of the aged samples were then measured. The results demonstrated a significant increase in PD activity over the aging period, with QIEC values rising from 331 pC, 393.7 pC, and 437.1 pC at 168 hours to 706 pC, 776.5 pC, and 792.1 pC at 840 hours, respectively. In parallel, the mechanical properties of the cables were evaluated during the aging process, revealing elongation at break loss rates (λEAB) of 22.92, 23.86, and 29.73 after 840 hours, compared to initial values of 0.38, 0.57, and 1.52 at 168 hours. Additionally, Fourier transform infrared spectroscopy was utilized to assess the transmittance coefficient and calculate the carbonyl index, with growth rates reaching 32.8%, 60.7%, and 91.7% after 840 hours of aging. Scanning electron microscopy was used to inspect the microstructural features on the surface of the cable samples, offering deeper insights into the aging process and explaining the observed PD trends. Finally, QIEC, λEAB, and the carbonyl index were identified as aging parameters, and a method was proposed for comprehensively assessing the operational condition of wind power cables by integrating electrical, mechanical, and microscopic properties.