In this paper, the SWT model was improved by incorporating the Walker equation into the strain–life curve. The established model takes into account the material's sensitivity to mean stress by introducing the Walker exponent, w. Under uniaxial loading condition, the proposed model can reduce to the SWT model, Manson‐Coffin equation, and Walker model for w values of 0.5, 1, and 0, respectively. Under multiaxial symmetric loading, when w = 0.5, the proposed model can be simplified as another SWT correction model (CXH) proposed by Chen et al. The prediction accuracy of the established model was validated using about 200 data points collected from literature. These data points were obtained from tests conducted on eight different kinds of metals under various multiaxial loading paths. The verification results indicate that 96.8% and 97.9% of the data points fall within the factor‐of‐three boundary for the loading paths without and with mean stresses, respectively.