The fatigue life of asphalt mixture has been found to significantly depend on loading sequences. However, the widely used traditional linear fatigue equations are difficult to determine the fatigue life of asphalt mixture subjected to different loading sequences. This study aims to improve these fatigue equations by establishing a fatigue equation considering loading sequence effects. First, the semi-circular bending (SCB) constant amplitude fatigue tests were conducted under the high loading amplitude (σhigh) and low (σlow) loading amplitude, respectively. Then, two of the loading sequences, namely the low-high stress (σlow-σhigh) and high-low stress (σhigh-σlow), were selected to carry out the SCB variable amplitude fatigue tests. Furthermore, the loading sequence effects on the life fractions and fatigue life of asphalt mixtures were analyzed. Finally, the damage equivalent criterion was successfully applied to establish the nonlinear fatigue damage accumulation model and fatigue equation considering loading sequence effects. It was found that the cumulative life fractions of asphalt mixtures under constant amplitude loading are equal to 1, indicating the linear fatigue damage accumulation. The cumulative life fractions corresponding to the σlow-σhigh and σhigh-σlow are greater than 1 and less than 1, respectively, indicating the nonlinear fatigue damage accumulation. The established nonlinear fatigue damage accumulation model can accurately characterize the dependence of fatigue damage accumulation on loading sequences. The established fatigue equations can improve the traditional linear fatigue equations to some extent and accurately predict the fatigue life of asphalt mixtures corresponding to the loading sequences of the σlow-σhigh and σhigh-σlow.