This article proposes a model to predict uniaxial and multiaxial ratcheting life by addressing the three primary parameters that influence failure life: fatigue damage, ratcheting damage and the multiaxial loading path. These three factors are addressed in the present model by (a) the stress amplitude for fatigue damage, (b) mean stress-dependent Goodman equation for ratcheting damage and (c) an inherent weight factor based on average equivalent stress to account for the multiaxial loading. The proposed model requires only two material constants which can be easily determined from uniaxial symmetric stress-controlled fatigue tests. Experimental ratcheting life data collected from the literature for 1025 and 42CrMo steel under multiaxial proportional and nonproportional constant amplitude loading ratcheting with triangular sinusoidal and trapezoidal waveform (i.e. linear, rhombic, circular, elliptical and square stress paths) have shown good agreement with the proposed model.