The heat transfer component is a major component of a nuclear power plant, the safety and service life of which are determined based on the long-term creep performance of the heat-transfer pipe material. Several long-term creep tests are usually required to determine the creep life of the heat-transfer pipe materials, which considerably restrict the evaluation efficiency of the material service performance. The objective of this study is to investigate the feasibility of accelerated creep test (ACT) to reduce the time required for evaluating the creep properties of materials. A alumina-forming austenitic (AFA) stainless steel was prepared, and the ACT was performed on a Gleeble thermal simulator. Based on the ACT developed and realized on the Gleeble thermal simulator, damage accumulation was realized by applying elastic-plastic tensile and compressive strains on the ACT specimen to simulate the accelerated changes in the microstructure of the alloy that can be usually observed during a conventional creep test (CT). The average stress with respect to all the cyclic stress relaxation stages in the ACT was considered to be the initial stress of the conventional CT, and a creep fracture test was conducted on the alloy sample. Results revealed that the ACT accelerated the microstructure evolution of the precipitated phases, dislocations, twins, and so on in a short time. Nevertheless, the repeated generation and annihilation of a large number of dislocations in the AFA alloy during the ACT provided the nucleation point and reduced the driving force associated with the nucleation of the precipitated second phase, including the Laves phase. In addition, the cyclic strain applied during the ACT will reduce the strengthening effect of the nanoscale deformation twins in the AFA alloy, resulting in differences in the evaluation effect. Thus, ACT is useful for the efficient evaluation of the creep properties of materials; however, the optimal range of test parameters must be further investigated.