Based on the analytic expression for the elasto-dynamic behavior of rotating shaft, the transfer matrix is formulated for the shaft element with uniform cross-section. Timoshenko beam theory is Introduced for modeling the behavior of shaft. Complex variables representing the displacement, slope, moment and shear force are used for deriving the transfer matrix between both ends of the shaft element. Simulation result obtained by applying the transfer matrix to a general rotor model is compared with the reference result and proved to be exact. Natural frequencies and the corresponding modes are analyzed with varying the bearing: stiffness. The generally used bearings are considered for discussions. and the bearing stiffness is shown to affect the vibration characteristics of rotor.