A dynamic rotor interturn short circuit fault may occur during synchronous generator operation. However, there is no method to analyze the generator’s characteristics under the dynamic rotor interturn short circuit fault and identify the fault. In order to solve this problem, a new dynamic rotor interturn short circuit fault analysis model is creatively proposed through mathematical derivation. Firstly, the rotor vibration characteristics and the mechanical response under magnetic pull excitation are theoretically analyzed. In addition, a finite element modeling method for the dynamic rotor interturn short circuit fault is proposed, and an experimental device is designed. The model of a synchronous generator under the dynamic rotor interturn short circuit fault is established to obtain the rotor’s unbalanced magnetic pulls and mechanical responses by finite element calculation. Finally, the rotor vibrations are tested on a CS-5 prototype generator. The validity of the model is verified by finite element calculation and an experiment. This paper provides theoretical support for the diagnosis of a synchronous generator’s dynamic rotor interturn short circuit fault.