Soil resistivity can effectively reflect the variation in structural characteristics of soils. The changes in soil resistivity can indirectly represent the degree of soil compaction, which is of great significance for the rapid evaluation of soil compaction. Yunnan laterite, in China, has widely been used as a building material in foundations, roadbeds, and dams due to its high strength and low compression. In this work, we tested the vertical and lateral resistivity of laterite during consolidation compression through an improved consolidation compression resistivity tester to discuss the variations in resistivity structural characteristic parameters (structural factor, shape factor, and anisotropy coefficient). A comprehensive index of resistivity structure characteristics was proposed to create a compactness evaluation model of laterite. The results showed that the vertical resistivity, lateral resistivity, average structural factor, and average shape factor of laterite gradually increased with continuous multi-stage vertical loading; however, the anisotropy coefficient decreased first, and then slowly increased to a stable state. The comprehensive index of resistivity structure characteristics could indirectly reflect the water content and pore content of the laterite, and the lateral resistivity was predicted from the vertical resistivity. Considering the influence of saturation and porosity on the resistivity structure characteristics, the evaluation model of compaction for laterite was finally established based on resistivity characteristics and this model had high accuracy, with small model verification error and good applicability. The proposed prediction model could serve as a theoretical reference for the application of the high-density electrical method in the convenient detection of compaction for laterite rolling engineering.