In general, it is noted that the time domain technique becomes difficult to predict with the use of the accurate fatigue life, due to the lack of dynamic information of the structure. When the multi-axial stress is generated by the random vibration excitation in the mechanical structure, the fatigue analysis should have performed in the frequency domain as based on the multi-axial PSDs due to the problems presented above. Notably, Premont proposed a method to calculate the equivalent stress using PSDs in the frequency domain. In calculating the equivalent stress PSD, the phase difference between the multi-axial stress components was not considered at that time. This study propose a frequency domain fatigue analysis technique which can calculate the equivalent stress from the multi-axial PSD, as it works considering the phase difference that can appear in the real vibration excited structure. To verify this method, the conventional time-domain method as similar to a multi-axial rainflow method, is compared with the proposed frequency domain method in a simple simulation model. The multi-axial PSD and finally the von Mises stress model is reviewed, according to whether the phase difference between the multi-axial stress components is considered or not is analyzed.