Asphalt binder in pavement is subjected to sustained static and dynamic stresses under traffic loadings, leading to the formation of fatigue cracks. As the most common type of pavement distress, fatigue cracking accelerates deterioration and reduces pavement performance. Thus, it is crucial to predict fatigue behavior of asphalt binder accurately. To deeply comprehend the mechanisms behind fatigue failure and enhance the fatigue performance of asphalt binder, a novel fatigue failure evaluation method was developed in this study. The fatigue performance of two kinds of asphalt binders under various creep and cyclic loadings at different temperatures was investigated by dynamic shear rheometer. Two plasticity-based fatigue damage constitutive models were developed based on the creep viscoplasticity method and classic viscoplastic theory, respectively. Finally, a new criterion for fatigue failure was established using the novel fatigue failure evaluation method and the two newly developed plasticity-based damage constitutive models.