The fault tolerance method of virtual machines (VM) guarantees reliability to the service capability of cloud platforms. VM workloads are dynamic and uncertain, and thus, they affect the reliability and task processing capability of entire cloud platforms. In this study, a fault tolerance method based on the VM workload consolidation model was proposed to solve problems concerning the reliability and task processing capability of cloud platforms caused by VM workloads, thus improving the reliability of VMs and overall performance of cloud platforms. First, the method was analyzed on the basis of the distinct relationship of VM workload and VM reliability and task processing capability. Then, the workload state of VM was predicted and analyzed by linear regression using VM workload monitoring data, and the VM workload consolidation algorithm was constructed based on expected workload constraint and optimization of fault tolerance time. Finally, the fault tolerance method based on the VM workload consolidation model was compared with the Radom method and the Max method. Research results demonstrate the potential of the proposed method to improve VM reliability in cloud platforms by 20% and 47% compared with those for the Radom and Max methods, respectively. In the same workload phase, the task completion rate of the proposed method increased significantly (15% and 30%, and 22% and 30%), and the percentages were higher than those for the Radom and Max methods, respectively. Moreover, the proposed method shortened task response time. This study concludes that the workload consolidation of VMs can increase the reliability and task processing capability of VMs. This proposed method can provide technological support to the fault tolerance of VMs in cloud platforms.