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In this work, the mathematical characterization of the cascaded ηprefix−μ$$ \eta -\mu $$ fading channel based on multiplicative modeling is discussed. The proposed cascaded ηprefix−μ$$ \eta -\mu $$ probability density function is derived by taking the product of N$$ N $$ statistically independent, but not necessarily identically distributed ηprefix−μ$$ \eta -\mu $$ fading random variables, which encompasses various well‐known distributions as cascaded Nakagami‐m, Hoyt, and Rayleigh distributions. In particular, other statistical measures such as cumulative distribution function, moment generating function, and moment of the cascaded channels, are developed. This set of derived results is further utilized in studying the reliability performance of the wireless cascaded fading channels. The system reliability is comprehensively investigated through various statistical metrics like average symbol error probability, ergodic capacity, outage probability, and effective capacity. All the developed results are of intractable univariate Foxs H‐function form. The accuracy of the numerical results is extensively validated through Monte‐Carlo simulation.

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