Prediction and control of the permanent settlement of a track caused by traffic loading from trains is crucial to high-speed railway design and maintenance. In this study, a unified prediction model of accumulative deformation of geomaterials used in railway construction subjected to cyclic loadings is introduced and calibrated using physical model testing. Based on this versatile model, a calculation approach to determine the track structure settlement under repeated loadings caused by the movement of the wheel axle of the train is proposed. Regression analysis on the physical model testing is adopted to determine the parameters involved in the computational approach. Comparison of model test data and computed results shows that the parameters obtained from the back-analysis are consistent throughout the various testing conditions, and the proposed calculation approach is capable of satisfactorily predicting the accumulative settlement of the railway roadbed and subgrade soil for various axle loads and loading cycles. A case study of a high-speed railway is performed to demonstrate the feasibility of the proposed approach in realistic engineering applications. The computation results from the settlement development of a roadbed and subgrade soil are presented and discussed.