In this paper, the influence of the heaving motion on the nonlinear dynamic behavior of the rotor-bearing system is considered. First, a mathematic model of the marine rotor-bearing system is developed on the short bearing theory in the noninertial reference system, in which the heaving motion is taken into account. Then its dynamic characteristics are analyzed based on the numerical integration method, such as the bifurcation diagram, the largest Lyapunov exponents (LLE), the steady-state response, and the rotor orbit and its Poincaré map. The results indicate that heaving motion has a great effect on the dynamics of the rotor system, which exhibits a period 1 motion at low rotating speed, with the increase of the rotating speed, the phenomena of the quasiperiodic, period 2, and double Hopf bifurcations appear. Its dynamic performance presents a period 1 motion, period 2, quasiperiodic, and chaotic oscillation.