Fatigue properties of Inconel 718 at 500°C were investigated under rotating bending. Fatigue strength was higher at 500°C than at room temperature. Fracture occurred by the initiation and propagation of a surface crack in short life region. The early propagation of a surface crack smaller than 20-30 μm was suppressed by oxidation at 500°C. This is a main reason for the higher fatigue strength at 500°C. However, the crack growth after the retardation of a small crack growth at 500°C was accelerated reflecting the lower static strength. On the other hand, in long life region, though a surface crack initiated at the early stage of fatigue life similar to the case in short life region, the crack did not propagate over 20-30 μm, and an internal fracture occurred. Consequently S-N curve at 500°C showed a duplex property and the fatigue limit was not recognized. The subsurface damage was initiated at the early stage of fatigue life.