It is a widely known fact that the stiffness of polymer composite materials decreases with the accumulation of fatigue damage under cyclic loading. The purpose of this article is to develop a method and obtain experimental data on decrease of the elastic characteristics of a fiber-reinforced laminate, as a result of progressive fatigue damage. The developed technique consists of two stages. At the first one, the natural frequencies and eigenmodes of the samples during their fatigue testing are experimentally obtained. The dependences of the natural frequencies of the samples on the number of loading cycles are found. At the second stage, the four elasticity parameters of the laminate monolayer (two Young modules, the shear module and Poisson's ratio) are identified via the natural frequencies. The inverse numerical/experimental technique for material properties identification is applied. The dependences of the natural frequencies and mentioned elastic characteristics on the relative fatigue life are obtained as experimental results of both modal and fatigue tests. The results can be useful to study the fatigue behavior of the investigated materials and to create methods for calculating fatigue life.