In this work, we study the fatigue behavior of a C/SiC composite produced by several cycles of polymer infiltration and pyrolysis (PIP). Fatigue tests were performed with maximum stresses corresponding to 60–90% of the tensile strength of the composite. During the fatigue tests, acoustic emission (AE) monitoring was performed and the measured AE energy was utilized to quantify the damage and distinguish possible damage mechanisms. Most of the fatigue damage in the form of matrix cracking, interface damage and fiber breakage occurs in the first cycle. As loading cycles proceeded, damage in form of matrix crack re-opening and interfacial friction constantly accumulates. Nevertheless, all samples survived the run-out of 1,000,000 cycles. After the fatigue tests, an increase of the tensile strength is observed. This phenomenon is associated with the relief of process-induced internal thermal stresses and the weakening of the fiber-matrix interface. In general, the studied material shows very high relative fatigue limit of 90% of its tensile strength.