The effect of carbonation on fatigue performance of ground granulated blast-furnace slag concrete was investigated. Based on the static compression tests of carbonated GGBS-concrete, the correlation between carbonation depth and compressive strength was analyzed and an equation between carbonation depth and compressive strength was put forward. Meanwhile, fatigue S-N curves of various carbonation depths were fitted, and the influence of carbonation on fatigue life and strength was studied. Carbonation has a dual effect on the fatigue behavior of GGBS-concrete. A fatigue equation based on the depth of carbonation was established. Also, the probabilistic distribution of fatigue life of carbonated concrete at a given stress level was modeled by the two-parameter Weibull distribution.