The cyclic behavior of E52 100 quenched and tempered rolling bearing steel displayed strain-hardening according to the law Δσ/2 = 5790 (Δϵp/2)0.137. The fatigue life was found to be given by the formula Δϵ/2 = 0.0073 (2Nf)-0.36 + 0.0145 (2Nf)-0.062. The cyclic strain-hardening law was used in a finite-element bidimensional incremental elastoplastic analysis to compute the plastic deformation around inclusions in the Herzian stress field produced by a rolling ball. Three types of inclusions were studied: alumina, titanium nitride, and spinel. The maximum plastic strain region was found to be inclined with respect to the rolling direction as observed in rolling bearings. This strain distribution provided an explanation for the relative harmfulness of the various inclusions. The strain amplitude found could be used to predict the number of cycles for fatigue crack initiation at inclusions using the experimental fatigue life law.