In this paper,the mill stand and the rolled piece were studied as a system. Based on the disoreted masses and the deformation of bending curve of the roller and roll housing, according to Rayleigh method,the equivalent mass and and the equivalent stiffness of the mode were solved,and set up a multiple degree of freedom vibration dynamic model. And also did theoretical analysis and calculation with an exapmle of the 4200 thick plate rolling mills.