Under multi-step cyclic fatigue loading, the mechanical hysteresis loops of ceramic-matrix composites (CMCs) were affected by coupled multiple damage mechanisms. In this paper, the hysteresis-based inverse tangent modulus (ITMs) was developed to characterize the cyclic fatigue mechanical hysteresis behavior in 2D SiC/SiC composite under multi-step loading. The micromechanical multi-step hysteresis constitutive models were developed for the damage state of interface partial and complete debonding. Relationships between the cyclic-dependent interface wear, hysteresis loops, interface slip damage state, and ITMs were established. Effects of multi-step peak stress level, cycle number, and interface properties on the evolution of hysteresis stress-strain curves and ITMs were analyzed. Experimental multi-step cyclic fatigue hysteresis loops and ITMs of 2D SiC/SiC composite under different peak stresses of 1.2, 1.3, 1.4, and 1.5 PLS (proportional limit stress) were predicted. Compared with other hysteresis-based damage parameters, e.g., hysteresis width, hysteresis modulus, peak and residual strain, and loops area, the damage parameter of ITMs can better reveal the interface debonding and slip damage state in CMCs under multi-step cyclic fatigue loading.