To address the detection and monitoring needs of fatigue damage in ferromagnetic materials, this paper proposes a nondestructive testing method based on the evolution of magnetic hysteresis characteristics. By constructing a hysteresis loop measurement system, the variation patterns of coercivity (Hc) in Q235 steel specimens under cyclic loading were investigated, revealing three-phase characteristics of fatigue damage: the initial linear growth phase (N ≤ 8,000), the rapid rise phase (8,000 < N ≤ 12,000), and the stable oscillation phase (N > 12,000). Experimental results demonstrate that the relationship between coercivity and damage degree (D) can effectively characterize the processes of crack initiation, propagation, and instability, with significant inflection points observed at D = 0.6 and D = 0.8. The quantitative model based on coercivity provides a novel method for early warning and condition assessment of fatigue damage, offering advantages such as non-contact operation and high sensitivity. This study provides theoretical foundations and technical support for the health monitoring of engineering structures.