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A new criterion for multiaxial high-cycle fatigue limit for both smooth andnotched specimens is proposed using two parameters: one governing crack initiation inStage I and the other governing initial crack growth in Stage II. The axial fatigue limitfor smooth specimen and the true fracture strength are used as the material properties.The prediction accuracies of conventional and the proposed criteria are comparedusing known data about fatigue limits under different loading conditions. Thecomparison is provided for the effects of phase difference, mean stress and thecombination of phase difference and mean stress. The evaluation error of the proposedcriterion is approximately 10%. The prediction accuracy of the proposed criterion ishigher than that of the other criteria.