In this article, a universally applicable multiaxial fatigue criterion in 2D cyclic loading is proposed, which can be used for a great variety of materials and loading conditions. A strain-based fatigue parameter is defined and, at the same time, a new failure model is proposed to overcome the weaknesses of other mechanisms used previously. In addition, the influence of non-proportional loading, maximum, minimum and mean loading, the influence of both normal and shear components, Poisson effect, different failure types, etc. can also be taken into consideration. A huge number of materials and loading conditions are used to validate the capabilities of the proposed methodology. The results show that the new multiaxial fatigue criterion provides excellent life predictions for all the materials and loading conditions used in this work. The proposed approach can be regarded as a universally applicable multiaxial fatigue criterion in 2D cyclic loading.