Probabilistic stress-life (P-S-N) studies using alternating torsion life test were conducted with the bearing steel JIS SUJ2/AISI 52100 having a hardness range of Rockwell C scale of 58-62 HRC to determine the existence of a fatigue limit for this through-hardened steel. One hundred and fifty (150) alternating torsion tests were performed at six torsion maximum shear stress amplitudes of 0.5, 0.63, 0.76, 0.80, 0.95, and 1.0 GPa. The number of specimens that were run at each stress amplitude varied from 19 to 33. There is no observable fatigue limit for JIS SUJ2/AISI 52100 bearing steel. On log-log plotted data, life is linear and is inversely proportional to shearing stress to a 10.34 exponent. The failure mode of the experiment is due to the conjugate tensile and compressive alternating stresses in accordance with alternating shearing stresses. The three-parameter Weibull life distribution function with a constant value of the Weibull slope m = 3/2 was found to have the best conformity followed by the log-normal distribution and the two-parameter Weibull distribution function. The shear stress-life exponent (A = 10.34) for JIS SUJ2/AISI 52100 bearing steel was independent of the Weibull slope.