In this study, the fatigue properties of press die steel, such as SKD11, and three high-durability die steel for the cold forming of ultra-high-strength steel sheets are evaluated. Specimens for fatigue, tensile, and hardness tests are manufactured through the heat treatment recommended by steelmakers and ultra-high precision processing. The general mechanical properties and fatigue properties are derived from hardness, tensile, and fatigue tests for four die steel. The tensile and fatigue properties of die steel derived through the tests are compared and analyzed. In particular, the correlation between the fatigue limit and the general mechanical properties such as tensile strength and elongation is analyzed, which allows relational expressions to be obtained through regression analysis. Finally, the study confirms that applying high-durability die steel is necessary for improving the die life in the manufacturing of press dies for ultra-high-strength steel sheets.