Abstract: The supporting characteristics of the hybrid bearings and the dynamic characteristics of the spindle system have a direct impact on the quality of grinding process. The dynamic characteristics of the spindle system are mainly dependent on the supporting stiffness and damping of the hybrid bearing. First, the oil film load capacity and temperature fields of the hybrid bearings are analyzed by using CFD method under different parameters, and the supporting stiffness and damping are then obtained with the "Moving Grid" technology. The results are then received into the equivalent stiffness and damping model, which is used in the finite element analysis of the dynamic characteristics of the spindle system. Finally, the natural frequency of the spindle system is measured to verify the validity of the analysis method.