A constrained variation modeling method for free vibration analysis of rotating double tapered functionally graded beams with different shear deformation beam theories is proposed in this paper. The material properties of the beam are supposed to continuously vary in the width direction with power-law exponent for different indexes. The mathematical formulation is developed based on the geometrically exact beam theory for each beam segment, the admissible functions denoting motion quantities are then expressed by a series of Chebyshev orthogonal polynomials. The governing equations are eventually derived using the constrained variational method to involve the continuity conditions of adjacent segments. Different shear deformation beam theories have been incorporated in the formulations, and the nonlinear effect of bending–stretching coupling vibration together with the Coriolis effect is taken into account. Comparison of dimensionless natural frequencies is performed with the existing literature to ensure the accuracy and reliability of the proposed method. Comparative discussions are performed on the vibration behaviors of the double tapered rotating functionally graded beam with first-order shear deformation beam theory and other higher-order shear deformation beam theories. The effect of material property graduation, power-law index, rotation speed, hub radius, slenderness ratio, and taper ratios is scrutinized via parametric studies, respectively.