Uniaxial ratchetting-fatigue interaction of tempered 42CrMo alloy steel was observed by various cyclic stressing tests at room temperature. The ratchetting deformation and low cycle fatigue (LCF) property of the material as well as their interaction occurred in cyclic stressing were discussed. It is shown that progressive ratchetting deformation causes the decrease of fatigue life, and the fatigue life of the material depends greatly upon the applied mean stress, stress amplitude, maximum stress and stress ratio. Since tempered 42CrMo steel presents significant cyclic softening feature, a tertiary ratchetting is observed. Based on the experimental results, a simple and reasonable failure model convenient to engineering application was constructed to predict the fatigue life of the material in uniaxial cyclic stressing. The basic variables of the model are maximum stress and stress ratio, and the effect of cyclic softening feature on the ratcheting-fatigue interaction is also included in the model by introducing a new variable. It is shown that the predicted lives are in fairly good agreement with the experimental ones.