Metallic components may not be used immediately and are stored for several months or years after fabrication in some cases, which experience long-term natural aging. Moreover, the fatigue-beared components commonly suffer discontinuous cyclic loadings in service. In this paper, the effects of natural aging and discontinuous loading on high cycle fatigue life and failure mechanism were investigated through rotating bending fatigue tests. The long-term natural aging (e.g., more than 20,000 h) reduced the fatigue life of both 25CrMo4 and 30CrMnSiA steels, and this effect was irrespective of the roughness of the specimen surface. The effect of natural aging on the failure mechanism was related to the microstructure of materials. The natural aging promoted the probability of multi-site crack initiation for 25CrMo4 steel, but had no influence on the crack initiation mode of 30CrMnSiA steel. The discontinuous cyclic loading had no harmful influence on the fatigue life of 25CrMo4 steel, and it had no influence on the failure mechanism. The specimens under continuous and discontinuous cyclic loadings both failed from single-site crack initiation or multi-site crack initiation at the specimen surface.