In this study, a fluid/structure coupled analysis system for simulating complex flow-induced vibration (FIV) phenomenon of cascades has been developed. The flow is modeled using Euler and Wavier-Stokes equations with different turbulent models. The fluid domains are modeled using the unstructured grid system with dynamic deformations due to the motion of structural boundary. The Spalart-Allmaras (S-A) and the SST ${kappa}-{omega}$ turbulent models are used to predict the transonic turbulent flows. A fully implicit time marching scheme based on the Newmark direct integration method is used in order to solve the coupled governing equations for viscous flow-induced vibration phenomena. For the purpose of validation for the developed FIV analysis system, comparison results for computational analyses of steady and unsteady aerodynamics and flutter analyses are presented in the transonic flow region. In addition, flow-induced vibration analyses for the isolated cascade and multi-blades cascade models have been conducted to show the physical fluid-structure interaction effects in the time domain.