Axial compressor blades with a deformed initial torsion angle caused by aerodynamic excitation resonated at the working speed and changed the rule of fatigue damage accumulation. The fatigue life of a blade has a prediction error, even causing serious flight accidents if the effect of torque causing damage deterioration of the blade fatigue life is neglected. Therefore, in this paper, a uniaxial non-linear fatigue damage model was modified using the equivalent stress with torsional shear stress, and the proposed fatigue model including the torsional moment was used to study the compressor blade fatigue life. Then, the blade numerical simulation model was established to calculate the vibration characteristics under complex loads of airflow excitation and a rotating centrifugal force. Finally, the blade fatigue life under actual working conditions was predicted using the modified fatigue model. The results show that the interaction between centrifugal and aerodynamic loads affects the natural frequency, as the frequencies in modes dominated by bending deformation decreased whereas those dominated by torsional deformation increased. Furthermore, the blade root of the suction surface showed stress concentration, but there is an obvious difference of stress distribution and amplitude between the normal stress and the equivalent stress including torsional shear stress. The additional consideration of the torsional shear stress decreased the predicted fatigue life by 4.5%. The damage accumulation rate changes with the loading cycle, and it accelerates fast for the last 25% of the cycle, when the blade fracture may occur at any time. Thus, the aerodynamic excitation increased the safety factor of blade fatigue life prediction.