Based on the analysis of notch-root stresses and strains in bodies subjected to multiaxial loading, a quantitative relationship between Neuber rule and the equivalent strain energy density method is found. In the case of elastic range, both Neuber rule and the equivalent strain energy density method get the same estimation of the local stresses and strains. Whereas in the case of elasticplastic range, Neuber rule generally overestimates the notch-root stresses and strains and the equivalent strain energy density method tends to underestimate the notch-root stresses and strains. A modified method is presented considering the material constants of elastic-plastic Poisson's ratio, elastic modulus, shear elastic modulus, and yield stress. The essence of the modified model is to add a modified coefficient to Neuber rule, which makes the calculated results tend to be more precise and reveals its energy meaning. This approach considers the elastic-plastic properties of the material itself and avoids the blindness of selecting coefficient values. Finally the calculation results using the modified model are validated with the experimental data.