Being a key component of the transmission system, the needle bearing’s performance and service life affects the overall service life of mechanical equipment. This study takes needle bearings composed of AISI 52100 steel as the research object and studies the effect of carbonitriding surface strengthening treatment on the bearing friction, wear, and fatigue life. The carbon and nitrogen co-infiltration surface-strengthening method was employed to prepare cylindrical and disc samples. The surface hardness, residual austenite content, microscopic morphology and organization composition, coefficient of friction, and wear scar were studied to analyze the effect on the wear performance of the material. The bearing fatigue wear comparison test was conducted on a test bench to compare the actual fatigue life and surface damage of the needle bearing through conventional martensitic quenching heat treatment and carbonitriding treatment. The results demonstrate that the carbonitriding strengthening method enhances the toughness of the material while improving its surface hardness. It also improves the wear resistance of the needle roller bearings, and the fatigue life of the bearings is significantly improved. In conclusion, carbon and nitrogen co-infiltration treatment is a strengthening method that effectively extends the service life of needle roller bearings, indicating its high practical value.