This study aims to propose a method for developing a zero-failure accelerated life test code for rolling element bearings using the load-life relationship while maintaining lubrication conditions under equivalent load conditions. The accelerated life test time of the rolling element bearing was presented using the load-life relationship of the bearing and the lubricant temperature, which keeps the minimum lubricant film thickness of the bearing constant. This ensures that there are no changes in the bearing lubrication characteristics due to load acceleration. In addition, the concept of damage-equivalent bearing life was introduced to derive the accelerated life test time by bearing load acceleration while maintaining the same bearing damage as the initial equivalent load. The proposed method can be used to develop a zero-failure accelerated-life test code that determines the target life and 90% reliability of a rolling element bearing at a given confidence level.