The stress relaxation of ethylene propylene diene monomer (EPDM) rubber material in a compressed state significantly increases the risk of water leakage at tunnel precast segmental joints. Additionally, EPDM rubber gaskets typically experience a complex precompression strain state, further complicating the prediction of long-term stress relaxation. Therefore, it is imperative to propose a novel constitutive model that realistically reflects the stress relaxation of rubber with arbitrary precompression strain, providing a reference for the long-term waterproof design of shield tunnels. In this study, the time-varying properties of EPDM rubber at material level were studied in detail. At first, a comprehensive set of accelerated aging tests were conducted on EPDM rubber samples with varying precompression strains. The hardening effect of rubber without precompression and the stress relaxation effect of rubber with precompression were explored. The time-varying law and mechanism governing rubber properties under these two effects were analyzed. Subsequently, a conversion relationship between the EPDM rubber test conditions and the actual service time was established. The predicted hardening coefficient for uncompressed EPDM after 100 years is 1.468, whereas the relaxation coefficient for compressed EPDM is 0.359. Comparative analysis revealed that the compression set index do not consider the beneficial effects of hardening, resulting in a 54.1% overestimation of the design water pressure. Finally, the analytical study on the constitutive model of EPDM rubber material was carried out. The error in compression curve for unaged sample obtained from empirical formulas exceeded three times that of the analytical model, underscoring the need to study time-varying constitutive models. An interpolation method was employed to extend the test curve, leading to the development of a new constitutive model that represents the stress relaxation characteristics of EPDM materials under arbitrary precompression strain states. By combining the proposed constitutive model with the timetemperature conversion relationship, the time-varying expressions of the constitutive parameters for relaxation and hardening effects during the service life were derived. In comparison with existing models, the proposed model demonstrates wider applicability, effectively captures the time-varying characteristics of EPDM materials under arbitrary precompression strains, offering an efficient approach for studying the long-term stress relaxation prediction of rubber gaskets in shield tunnels under complex precompression strain states.