This paper presents the dynamic modeling and analysis results for a spindle supported by angular contact ball bearings (ACBBs) subjected to angular misalignment. Although ACBBs are widely used in spindle systems, their characteristics in regard to angular misalignment have rarely been investigated. A simulation program was developed to calculate the dynamic characteristics of a simple spindle model that is supported by angular contact ball bearings subjected to angular misalignment. Angular misalignment is shown to introduce anisotropy into the angular contact ball bearings and then split the natural frequencies in spindles. Simulations were also performed to show the possibility of evaluating bearing misalignment using natural frequency measurements.