Abstract As a complex electromechanical coupling system, evaluating the motion characteristics of an ultrasonic motor via an accurate theoretical model is challenging due to the strong coupling between its electrical and mechanical properties. To address this issue, the paper first establishes a complete dynamic model of the V-shaped ultrasonic motor (VUSM). In contrast to the traditional dynamic model, the proposed model incorporates the centroid vibration of the stator and applies the weighted residual method to reduce the computational complexity by simplifying the dynamic model from infinite-dimensional degrees of freedom to two degrees of freedom. Subsequently, the finite element method is employed to determine the vibration mode of the stator structure and derive the two-phase operational mode of the motor. Using these two-phase working modes, the model is then solved to predict the motor's output characteristics under any operational condition. Furthermore, an electrical model accounting for preload nonlinearity was developed based on the dynamic model and compared with the model without considering preload nonlinearity, supported by experimental verification. The findings demonstrate that the established dynamic model and electrical model can accurately simulate the changing laws of the input and output characteristics of the motor, which provides assistance for the subsequent operation status evaluation of the motor and fault diagnosis during operation.