The object of this investigation is to develop equations of motion and analyze the eigenproperties of spinning boring trepanning association (BTA) deep-hole drill shafts containing flowing fluid and subject to compressive axial force. The energy formulations are based on a coordinate system attached to the spinning shaft (floating coordinate system), and the equations of motion were derived using Hamilton's principle. This problem was studied for two different models: a Timoshenko beam model (which includes shear deformation, rotatory inertia moment, and gyroscopic moment effects) and a Euler-Bernoulli beam model. Galerkin's method was used to obtain solutions of the dynamic system. And two kinds of experimental test were performed to investigate the eigenproperties of spinning BTA deep-hole drill shafts: impulsive testing for non-spinning tool shafts, and random-input excitation testing for spinning tool shafts. Experimental results are also compared with simulation results.