Nondestructive evaluation methods provide additional information about the material fatigue behavior and enhance the comprehension of damage evolution thanks to relationship between microstructure and physical properties. This paper deals with optical and ultrasonic investigations of structural steel specimens tested for low-cycle fatigue. The development of persistent slip bands observed on the surface with an optical microscope was quantified using a previously trained neural network and fractal analysis. A surface damage parameter was defined as the ratio of total area of detected slip bands to the area of observed surface. Relationships between the rate of change and critical value of the damage parameter, the strain range, and the fatigue life were established. A single square relationship between relative number of cycles and ratio of the surface damage parameter to its critical value was obtained.Acoustic birefringence was measured by the echo method. The effect of the strain range on the rate of change in acoustic birefringence was investigated. A single linear relationship between relative number of cycles and change in acoustic birefringence was established. An algorithm for predicting the material remaining life, combining optical and ultrasonic data, was proposed.