A fatigue test was conducted on a T-shaped welded joint under three-point bending conditions. Prior to the test, the geometry of the weld toe on both sides of the specimen was observed and measured. The locations of Fiber Bragg Gratings (FBG) strain gauges were determined based on the weld toe’s geometric features. During the experiment, a 2-level load spectrum block of cyclic loading was applied, resulting in distinct beach marks on the fatigue fracture surface. The stress-time history of the weld toe’s geometric features was monitored. After the test, the fatigue fracture was observed and measured, the influence of the crack path on the crack propagation rate was analyzed, and the influence of the crack propagation pattern on the stress evolution in the nearby area was studied. The experimental results show that the multiple cracks initiation positions have strong relationship with the characteristic points of weld toe morphology. Based on the Linear Elastic Fracture Mechanics (LEFM) theory and the concept of varying remote stress, four crack propagation simulation patterns were constructed and carried out. The results show that the varying remote stress has an more important influence on life prediction of welded joints, while the threshold mainly affect the life prediction of the early stage.