We propose a method of describing a phase transition in a cell fluid model with pair interaction potential that includes repulsive and attractive parts. An exact representation of the grand partition function of this model is obtained in the collective variables set. The behavior of the system at temperatures below and above the critical one is explored in the approximation of a mean-field type. An explicit analytic form of the equation of state which is applicable in a wide range of temperatures is derived, taking into account an equation between chemical potential and density. The coexistence curve, the surface of the equation of state and the phase diagram of the cell Morse fluid are plotted.