Equivalent Reynolds equation of truncated cone type SFD bearing using nonnewtonian EV fluid is derived. The 3 nondimensional oil film pressures and its forces are obtained with axial and circumferential pressure gradient of bearing respectively, and dynamic characteristics for the stability of rotor-bearing system are obtaind through the governing equation for an elastic rotational shaft. It is shown that EV fluid is less sensitive to the changes of oil-film than newtonian fluids for dynamic characteristics. Therefore, results show that it is better to use an EV fluid with truncated cone type SFD bearing for the vibration control of rotational machines.