In this paper, based on the process of the fatigue crack initiation and the critical plane theory, a continuous stress parameter was proposed to quantify the driving force of the fatigue crack initiation for the fully reversed multiaxial fatigue loading. In this stress parameter, the shear stress amplitude and normal stress amplitude on the critical plane were combined with the variable coefficients which were affected by the normalized fatigue life and the loading non‐proportionality. Owing to these coefficients, for the multiaxial loadings with different non‐proportionalities, the driving force of the fatigue crack initiation during the whole life could be described. After that, a novel accumulative fatigue damage model was established for the multiaxial two‐stage step spectrum. In this model, the accumulative damage was calculated according to the variation of the proposed stress parameter on the critical plane. Considering the directionality of the multiaxial fatigue damage, for the spectrum in which the loading path was variable, the damage accumulation was carried out on the critical planes of the both loadings, and the larger one was chosen as the final accumulative fatigue damage. In order to verify the new model, up to 41 different multiaxial two‐stage step spectrum loading tests on 2024‐T4 aluminium alloy were collected. The new model, as well as other five commonly used models, was applied to calculate the accumulative fatigue damage. The final results showed that, compared with other commonly used models, the new model had the most accurate results with the smallest scatters.