This paper focuses on high-reliability rubber materials with impact degradation characteristics and aims to address the issue of comprehensively utilizing accelerated failure sample information. A compound Poisson process is used to describe the impact pattern of the rubber material, and a performance degradation model is established. On this basis, the parameter estimation and reliability evaluation method for this performance degradation model are presented. Then, the three-parameter Weibull distribution is utilized to approximate the life distribution of rubber products. Afterwards, an accelerated equation estimation method is presented and a multi-stress life prediction model is established. Finally, through the stress acceleration test data and calculation results of a certain mechanical O-ring, the feasibility of this method is verified, which is of great significance for addressing the timeliness issue in the life assessment of high-reliability rubber materials.