This article presents a procedure to calculate the bearing capacity of suction anchors subjected to inclined average and cyclic loads at the optimal load attachment point using the undrained cyclic shear strength of soft clays based on the failure model of anchors proposed by Andersen et al. The constant average shear stress of each failure zone around an anchor is assumed and determined based on the static equilibrium condition for the procedure. The cyclic shear strength of each failure zone is determined based on the average shear stress. The cyclic bearing capacity is finally determined by limiting equilibrium analyses. Thirty-six model tests of suction anchors subjected to inclined average and cyclic loads were conducted, which include vertical and lateral failure modes. Model test results were predicted using the procedure to verify its feasibility. The average relative error between predicted and test results is 1.7%, which shows that the procedure can be used to calculate the cyclic bearing capacity of anchors with optimal loading. Test results also showed that the anchor was still in vertical failure mode under combined average and cyclic loads if an anchor was in vertical failure mode under static loads. The anchor failure would depend on the vertical resistance degradation under cyclic loads if an anchor was in lateral failure mode under static loads. Cyclic bearing capacities associated with the number of load cycles to failure of 1000 were about 75% and 80% of the static bearing capacity for vertical failure anchors and lateral failure anchors, respectively.