The invention relates to a test device and method for mechanical characteristics of a simulation bottom hole assembly, and belongs to the technical field of pipe string mechanical testing. The device comprises a simulation bottom hole assembly system, a driving system, a control system, a measuring system and a hoisting system, and is mainly composed of a test stand, a test bed, a hydraulic motor, a measuring and control instrument, a motor, an eddy current displacement sensor, a force measuring device, a computer, a signal acquisition module, a signal cable, a simulation drill string, a simulation wellbore, a wirerope and the like. The test method includes determining geometrical dimensions of the simulation drill string and the wellbore according to a similarity theory, subjecting the simulation drill string to stress calculation and designing the sensor according to a calculation result, hoisting the test bed to be at a needed hole drift angle through the hoisting system, loading an axial displacement and rotation speed to the simulation drill string through the driving system and the control system, and measuring axial force, lateral force and rotation angle of a simulation drill and a whirl motion law of the simulation drill string through the measuring system. According to the test device and method for the mechanical characteristics of the simulation bottom hole assembly, research quality of the mechanical characteristics of the simulation bottom hole assembly can be improved.