Waves are the main factor leading to the failure of risers of shallow sea platforms, which are subjected to cyclically changing loads under the action of waves, resulting in the phenomenon of fatigue damage. In order to analyze the fatigue damage generated by the vibration of high-pressure risers under wave action in a restricted area sea area in the Bohai Sea, this study adopts the finite element method, constructs a complex analytical model containing the platform, high-pressure risers, hydraulic connectors, and underwater wellheads, and conducts static and transient dynamics analyses of the risers to obtain the results of the vibration response of the marine high-pressure risers under the action of waves and, based on the DNV specification’s S-N curve method. The effects of normal and extreme sea conditions on the fatigue life of risers were evaluated by combining the rainfall counting method with Miner’s linear damage accumulation criterion. The investigation results indicate that wave load is the critical factor affecting the wave-induced fatigue life of risers, and the fatigue life of risers decreases significantly with the increase of wave load; the trend of moment change of high-pressure risers is characterized by increasing and then decreasing, and the risk of fatigue damage reaches a peak especially in the peak moment region. At the same time, the tensile stress of high-pressure risers is reduced abruptly at sea level; for the specific sea conditions in the Bohai Sea, although high-pressure risers are subjected to cyclic loads and wave-induced motions under the action of waves, the study shows that the risk of fatigue damage is extremely low, which will not lead to their fatigue failure. These findings are of significance reference value for the design and safety assessment of neutral pipes for shallow water oil and gas development, which can help to improve the reliability and economic efficiency of oilfield operations.