Objective To explore the developmental path of compassion fatigue in clinical nurses, and to provide reference for intervention research and practice. Methods Thirty clinical nurses received semi-structured interviews, and data were collected and analyzed by using constructivist grounded theory. Results Five categories and 22 sub-categories were identified. The developmental model of compassion fatigue in clinical nurses included five stages that could mutually convert to each other: compassion experience, compassion distress, compassion fatigue, compassion compromise, and compassion sublimation. Conclusion The development of compassion fatigue in nurses is a multi-stage and dynamic process, each stage has its own characteristic psychological experience and manifestations.