A modified model is developed to characterize and evaluate high-cycle fatigue behavior of Co-based superalloy 9CrCo at elevated temperatures by considering the stress ratio effect. The model is informed by the relationship surface between maximum nominal stress, stress ratio and fatigue life. New formulae are derived to deal with the test data for estimating the parameters of the proposed model. Fatigue tests are performed on Co-based superalloy 9CrCo subjected to constant amplitude loading at four stress ratios of −1, −0.3, 0.5 and 0.9 in three environments of room temperature (i.e., about 25 °C) and elevated temperatures of 530 °C and 620 °C, and the interaction mechanisms between the elevated temperature and stress ratio are deduced and compared with each other from fractographic studies. Finally, the model is applied to experimental data, demonstrating the practical and effective use of the proposed model. It is shown that new model has good correlation with experimental results.