According to unsaturated soil basic theories, equilibrium moisture of clay subgrade is predicted based on the updated studies of soil suction and soil water characteristic curve. Also, the bilinearity constitutive experience model of resilient modulus of clay soil is presented by triaxial repeated loading tests in laboratory. Using abovementioned results, a prediction method of equivalent resilient modulus of clay subgrade is established by comprehensively considering subgrade moisture and stress condition. Then, based on the concrete engineering, the prediction function of equivalent resilient modulus of the clay subgrade is provided by taking ground water table and subgrade height as centers. Compared with the results of other traditional testing methods on the same test road, the new prediction method may be used in practice. The results provide new perspectives and standpoints to determine the equivalent resilient modulus mechanics features of clay subgrade structure from two aspects of equilibrium moisture and stress condition.