A high resolution sensor of linear displacements has been elaborated for diagnosing the size of the crack tip opening in standard test specimens. Based on the data measured during fatigue crack growth resistance tests of a wheel steel heat treated after various modes, calculations of the strain and energy parameters of local fracture were performed for the corresponding variants of treatment, and fatigue crack growth rate diagrams were constructed using different approaches of fatigue fracture mechanics. It was established that the diagrams obtained using the strain and energy approaches are more sensitive to material microstructure and its mechanical properties than the traditional diagrams obtained using the stress approach. Based on the parameters of the fatigue crack growth resistance estimated using the strain and energy approaches, the effective diagnostics and the best heat treatment mode for the wheel steel was developed. It comprises the stages of isothermal quenching and tempering at a temperature of 500 °С, providing the highest fatigue fracture toughness of the steel.