A modified analytical solution is proposed to calculate the load-settlement curve of axially loaded piles, which may consider the degradation of the skin friction of piles, distribution of shear strength along the pile shaft, and a combination of different stress states of the pile-soil system. The parameters for the calculation model can be obtained by means of equivalent analysis of the in-situ measured skin friction. The results of the presented approach are verified with data from the available literature. Compared with other approaches, this method can be applied to practical engineering more efficiently; therefore, it is feasible to perform nonlinear analysis for load transfer of axially loaded piles. Furthermore, it can also be used for layered soils.