Compressor valve spring failure and rapid fracture occurred in a petrochemical enterprise. To find the cause of the failure, and to ensure the safe, stable, and continuous operation of the device, the failure of the spring is analyzed. In this paper, through the macro inspection, chemical composition analysis, metallographic analysis, scanning electron microscopy analysis, energy spectrum analysis, hardness analysis, and other tests, it is concluded that the main reason for the spring fracture is the fatigue fracture caused by unqualified materials. Suggestions are given to avoid similar problems in the future, and it is hoped that this failure analysis will provide valuable experience for similar failure problems in petrochemical enterprises.