The static and dynamic analysis of air lubricatied tilting pad journal bearing which considers tilting effect of each pad, preload but which neglects pad inertia effect and deflection are performed. A direct numerical method is used in evaluating the static characteristics such as load carrying capacity, friction force and small peturbation method is used for calculation of dynamic characteristics. Stiffness and damping coefficients are compared with the variation of the preload. And these coefficients are slightly decreased with increased compressibility number under the constant bearing load carrying capacity.