Aimed at the oval deformation of bearing raceway caused by manufacturing tolerance and assembly error, the radial deviation of angular contact ball bearing raceway was analyzed. According to Hertz contact theory and raceway control theory, the quasistatic model of raceway ovalization of angular contact ball bearing under joint load was established, and the influence mechanism of outer raceway ovalization on bearing contact characteristics was studied. The fatigue life of the oval raceway bearing was estimated by using the improved L-P theory. The results show that the greater the degree of raceway ovalization, the greater the mutation of the contact parameters of some rolling bodies, and the smaller the contact stiffness and fatigue life of the bearing. Raceway ovalization has a significant influence on fatigue life and the bearing life is reduced slowly when radial load is applied along the oval long axis. The study provides a theoretical basis for the design and application of the bearing under multiple working conditions