The invention relates to an experimental device for researching a drill column dynamic characteristic. The experimental device comprises a main machine frame, a well-wall-simulating assembly, a rotary assembly, a disc assembly, an excitation assembly, a weighing assembly and a detecting device. The well-wall-simulating assembly comprises an organic glass tube, a fixing clamping and a clamp mounting plate. The rotary assembly is provided with a motor, a driver, a coupler, a thin steel column and a top mounting plate, the rotary assembly penetrates through the whole main machine frame, the disc assembly comprises a disc and a cylinder, the disc is arranged on a floating platform, and the disc conducts rotary movement in the cylinder. An exciter in the excitation assembly excites the bottom of the disc according to the input signal type to simulate interaction of a drill head and rocks at the bottom of a borehole. The detecting device comprises a whirling motion track and a transverse vibration and longitudinal vibration detecting device. The experimental device for researching the drill column dynamic characteristic can simulate the vibration and deformation situations of a drill column and determine the parameters of the rotating speed, the bit pressure similarity ratio and the like according to the dynamic similarity ratio and the geometric similarity ratio.