Abstract: As a core motion component of CNC machine tools, the dynamic performance of the guideway directly affects the machining quality, load-carrying capacity, and service life of the machine. This paper focuses on the support guideway of heavy-duty machine tools and proposes a novel rolling-sliding composite guideway with a simple structure and convenient adjustment. The proposed composite guideway meets the operational requirements of heavy-duty machine tools under high-load cutting conditions. Considering the influence of joint surfaces, an equivalent dynamic model was established to identify the dynamic characteristic parameters of the composite guideway joints. By comparing the measured and fitted frequency response functions of the slide table, the relative error between the two was controlled within 5%. Experimental results show that the normal load has a significant effect on the normal dynamic characteristic parameters, increasing the normal joint stiffness and damping by 1.49 times and 13.86 times, respectively. The research findings provide important references for the design and optimization of the novel rolling-sliding composite guideway in heavy-duty machine tools.