In the present study, free vibrations and stability of rotating single walled carbon nanotubes (SWCNT) is investigated by nonlocal theory of elasticity; while the CNT is partially resting on an elastic foundation. The governing equations of motion are presented by using Love’s shell assumptions. An exact series expansion method of solution is employed and very accurate results are obtained. Some parameter studies including the effects of rotating speed, foundation stiffness, slenderness ratio and nonlocal parameter on the natural frequency and stability margins of the current model are studied. The studies show that rotation rates and foundation elasticity can contribute significantly in the dynamic characteristics of rotating MEMS devices.