Hidden frame glass curtain walls are one of the most common curtain wall structure forms. This year, the damage identification of panel elements based on vibration has had the problem of an inconsistent calculation model. In this paper, an experimental study on the dynamic characteristics of two full-scale panel elements is carried out, and the main factors affecting the dynamic characteristics of panel elements are analyzed by using a fine finite element model, and the corresponding simplified calculation model is proposed. The experimental and numerical results show that the structural sealant and frame are the important factors affecting the dynamic characteristics of panel units of hidden frame, and the natural frequency of panel elements can be overestimated by more than 40% if a simply supported boundary is adopted. The effect of structural sealant on glass panels and the supporting frame is mainly a translational constraint. The effect of structural sealant on the rotational constraint of a glass panel can be neglected and simplified as a translational spring model. Using a shell element, a translational spring element and a beam element, respectively, the calculation error of the glass panel, structural sealant and supporting frame is about 5%, which shows good calculation accuracy.