To investigate the impact of radial internal clearance of rolling bearings on the dynamic response of a flexible rotor system in a turbo-shaft engine, a dynamic similarity model of the power turbine rotor was established. Experimental research was then conducted. Four rolling bearings supporting the rotor were examined, with dynamic response tests carried out under varying radial internal clearances. The influence of the radial internal clearance on the dynamic characteristics of the rotor system was studied using the controlled variable method. The amplitude, orbit, and asynchronous vibration were analyzed through time-domain signal comparison, waterfall diagrams, and spectral analysis. The experimental results demonstrate that: (1) Adjusting the radial internal clearance of the bearings can significantly reduce the dynamic response of the flexible rotor system, with a maximum observed displacement response reduction of 88%. (2) The efficiency of vibration reduction is closely related to the axial location of the bearing. (3) Optimal radial internal clearance is not necessarily achieved at the maximum or minimum values. (4) The "locked-up" frequency phenomenon, which increases the resonance opportunities of the rotor system, can be mitigated by adjusting the radial internal clearance of different bearings. This research is of great significance and engineering value for understanding, diagnosing, and preventing excessive vibration in flexible rotor systems.