As an important component of the CNC milling machine, the stiffness and vibratory modal of spindle need to be analyzed in the process of design. In this paper, the above two performance parameters were analyzed by use of finite element method (FEM). For stiffness analysis model, the beam elements (BEAM4) and spring-damper elements (COMBIN14) were used. For modal analysis, the solid elements (SOLID45) and spring-damper elements (COMBIN14) were used. Furthermore the relationships between natural frequency and stiffness of bearing, cantilever length of spindle were studied. The calculation results showed that the present modeling method was feasible for analyzing spindle component of CNC milling machine.