The integrity assessment of structural components under complex loading conditions relies on the evaluation of the fatigue damage typically arising from stress concentrations, such as geometric irregularities, notches, weld beads, grooves etc.. Various methodologies, including the Notch Stress Approach (NSA), the Theory of Critical Distances (TCD), the Strain Energy Density (SED), and the Critical Plane (CP) concept, have been pivotal in assessing fatigue strength for notched and welded components. Recent works combine some of the above mentioned methodologies, while other works propose to vary the embedded parameters accounting for the loading type or the fatigue lives, trying to improve the accuracy of the fatigue assessment process. This paper introduces a novel approach, the Effective Critical Plane (ECP), which is founded on the critical plane concept. The CP factor is, however, calculated starting from an averaged, over a small volume, stress–strain field. The size of the averaging volume is assumed to be a material parameter and is determined by a best fitting procedure over different experimental data sets. The novel approach is illustrated by means of the Fatemi-Socie and the Smith-Watson-Topper CP damage factors. Its potential application to other CP formulations is straightforward, as well. Literature experimental data for low carbon steel specimens possessing different notches and loading conditions are used to validate the method’s capability in accurately determining the fatigue life and to set the radius of the averaging volume for the given material and CP parameter. A spherical volume or circular area are used in case of fully 3D or 2D numerical models, respectively. Results are compared to those of some of already existing methods, namely SED, TCD and the Modified Wöhler Curve Method.