The paper takes the corrosion fatigue damage of cable or sling in the actual bridge as a starting point. The high-strength steel wire is chosen as the basic component to study the corrosion fatigue failure mode. The service life prediction model is put forward, which provides a basis for future research. In this paper, the S-N curves of the steel wire with the different corrosion degrees are given through fatigue tests of six groups of steel wire under different corrosion conditions. The results show that the higher the corrosion degree, the steeper the S-N curve, and the fatigue life considering corrosion are much lower than that without considering corrosion. Finally, a fatigue life prediction model considering the coupling effect of corrosion fatigue is proposed and embedded into Abaqus v6.14 (Dassault, Paris, French). The calculation results show that the fatigue model considering the corrosion can predict the service life to some extent.