This paper presents an analysis of the stiffness and fatigue life of double-row angular contact ball bearings (D-ACBBs). To this end, a comprehensive quasi-static model was developed for D-ACBBs subjected to five degree-of-freedom (DOFs) loading and displacement. The model was verified by a commercial computational program. A rigorous numerical investigation was performed, based on the developed model regarding the effects of external load, rotational speed, axial clearance, bearing arrangement, and angular misalignment on the stiffness and fatigue life of the D-ACBB. The D-ACBB was subjected to negative axial clearance and yielded improved performance in terms of fatigue life and stiffness. The effect of angular misalignment on the bearing fatigue life was found to be significantly dependent on the amount of axial clearance. The moment stiffness of the D-ACBB in a back-to-back arrangement was higher than the face-to-face arrangement owing to the increased effective load center distance, whereas the radial stiffness and fatigue life were almost unchanged for back-to-back and face-to-face arrangements.