Ultrasonic detection is currently used in the industry of medium-density fiberboard to detect blister defects. Due to the small detection area of a single sensor, multiple sensors need to be used, which results in high costs. Starting from elastic thin plate vibration theory, this paper builds a vibration dynamic model to detect blisters. The size and depth of the blister area can be established by determining the natural frequency of the thin plate vibration in the blister area. In this model, if the elastic modulus and density are known, the natural frequency of the thin plate vibration at the blister place is directly proportional to the blister depth and inversely proportional to the square of the blister radius. The size and depth of the blister can be determined by measuring the first third-order natural frequency of this area of research. A total of 25 specimens with blister sizes and depths were simulated, and the natural frequencies of the specimens were measured. Subsequently, the detection model was verified by comparing its experimental data with theoretical values. The theoretical value was highly consistent with the measured data. The measured values of the first, second, and third-order natural frequencies were slightly smaller than the theoretical calculated values, with average relative deviations of −1.6%, −1.34%, and −1.03%, respectively. As the order progressed, the deviation exhibited a downward trend, and the third-order natural frequency displayed the smallest deviation and highest accuracy. The proposed vibration dynamic model can detect larger blister areas by measuring the natural frequency, which can overcome the shortcomings of small ultrasonic detection areas in current actual industries. Thus, the practical online blister detection device is expected to be further developed.