The offshore wind industry is a quickly growing market because the increasing demand for clean energy sources. Large wind speeds and the abundance of potential wind farm locations make Offshore Wind Turbines an interesting solution. Because of high continuous dynamic loading and extreme environmental conditions, the structural design requires a detailed assessment, especially in the Fatigue Limit State. In this thesis, the focus lies on improving the modeling of monopile foundations for Offshore Wind Turbines, which could pave the way towards more efficient foundation design. The conventional method of modeling the monopile foundation of an Offshore Wind Turbine is with a nonlinear elastic distributed spring stiffness along the monopile (using p-y curves). Damping related to the soil is considered through either global damping (like Rayleigh damping) or local viscous damping. However, the response of the soil around the monopile under wind and wave loading is better described through a nonlinear hysteretic (rate-independent) model, which is computationally demanding to model in the time domain. Next to that, a conventional frequency domain method can not be combined with any nonlinearity. Therefore, linear elastic models are used to model the soil response in frequency-domain simulations. The goal of this thesis is to combine a nonlinear hysteretic soil model with a frequency-domain analysis. A response amplitude-dependent linearization of the nonlinear hysteretic element is made. The combination of the response amplitude-dependent element with an iterative solution strategy, the Equivalent Linear method, is shown to approximate a nonlinear time-integration under both harmonic and multiharmonic loading, as long as the nonlinearity is limited. A nonlinear hysteretic model is fit to available soil reaction data and a response amplitude-dependent linearization is generated. A Finite Element model that can be combined with the Equivalent Linear method is set up and verified with a case study structural model of an Offshore Wind Turbine. The model is subjected to (high) Fatigue Limit State wave loading. The results are compared to both a conventional frequency-domain method (with a linear elastic small-strain soil model) and a nonlinear time-domain method (with a nonlinear elastic soil model). The deflections and deflection spectra in the foundation found through the Equivalent Linear method correspond to results from the nonlinear time-domain method, provided the influence of higher harmonics is limited and the response has a similar amplitude throughout the analyzed time window. Results from the Equivalent Linear method show that the main frequency of the first resonance peak is around 2% smaller than the first natural frequency of the system, which is consistent with the results found through the nonlinear time-domain method. The identified soil damping in the first mode is 0.64-0.8% critical (4-5% log. dec.), which is similar to other literature. By combining observed system properties with literature about fatigue damage estimation, a hypothesis is stated: the fatigue damage in the foundation calculated through an Equivalent Linear method with a nonlinear hysteretic soil model will be lower than the fatigue damage calculated through a nonlinear time-domain method with a nonlinear elastic soil model.