In order to investigate the fatigue damage characteristics of oil well cement under different cyclic loading rates, the fatigue experience of oil well cement was conducted under various loading rates and testing conditions. The results reveal that increasing the loading rate prolongs the fatigue life of oil well cement, enhances deformation capacity, and decreases the loading modulus. Furthermore, within the comparable plastic deformation range, oil well cement exhibits the lower dissipative energy when the loading rate is relatively higher. Notably, under high-temperature and high-pressure conditions, the oil well cement exhibits remarkable deformability but a shortened fatigue life, the energy absorbed during the loading test is primarily converted into dissipative energy. Fatigue failure occurs shortly after the volumetric strain reaches the inflection point, typically occurring after three cycles. Regardless of the test conditions, the inflection point value can serve as a reliable warning indicator for the onset of fatigue failure in oil well cement.