A method for assessing exercise fatigue includes obtaining exercise heart rates of a user; calculating a CTL and an ATL based on the exercise heart rates and an exercise load computation model; calculating a TSB based on the CTL and the ATL; and determining a fatigue level based on the TSB. Such a determination of fatigue level will not be affected by subjective factors, thereby the scientificity and accuracy of the assessment result are effectively improved, and the assessment result is closer to the user's current physical function condition.