The invention belongs to the technical field of bearing dynamic characteristic testing, and particularly relates to a device for testing dynamic characteristics of a rolling bearing based on a rotor-bearing system. The device comprises a bottom plate, and a motor assembly, a coupling, an accelerator, to-be-tested bearing assemblies, a disc, a driving shaft, a rotation speed sensor, a displacementsensor and a coaxality sensor arranged on the bottom plate, wherein two ends of the driving shaft are supported by the two symmetrically-distributed to-be-tested bearing assemblies; one end of the driving shaft is connected with the accelerator and the motor assembly through the coupling; the disc sleeves the driving shaft and rotates together with the driving shaft; the rotation speed sensor andthe displacement sensor are used for measuring the rotation speed of the rotor-bearing system and the displacement of the driving shaft; and the coaxality sensor is used for measuring the coaxality ofeach part on the driving shaft. The structure is simple, the operation is easy, the dynamic characteristics of the to-be-tested bearing can be accurately measured, and a basic means for building a rolling bearing dynamic characteristic database is realized.