Inherent in machine tool structures are the vibrations which are generated by rotating parts such as motors, spindles and chucks. The vibrations not only hurt the precision machining but also damage the structures, and become more serious with time. Many of the old machine tools show severe vibrations for the desired accuracy of the modern industries. It is too much of a waste, however, to get rid of them as scraps. There have been many researches in order to suppress the vibrations of old machine tool structures using the tool post which utilizes actuators to compensate the existing vibrations and using the dampers or absorbers attached to some critical parts. In this paper, the dynamic properties are analyzed to obtain the natural frequencies and mode shapes of a machine tool structure which reflect the main reasons of the biggest vibrations under the given operating conditions. And the feasibility of improving the stability of the structure has been investigated with minor design changes and expenses. The result of the study shows that simple changes based on proper system identification can considerably improve the stability of the machine tool structure.