This paper presents a new method for time-frequency representation (TFR) using dynamic mode decomposition (DMD) and Wigner-Ville distribution (WVD), which is termed as DMD-WVD. The proposed method helps in removing cross-term in WVD-based TFR. In the suggested method, the DMD decomposes the multi-component signal into a set of modes where each mode is considered as mono-component signal. The analytic modes of these obtained mono-component signals are computed using the Hilbert transform. The WVD is computed for each analytic mode and added together to obtain cross-term free TFR based on the WVD. The effectiveness of the proposed method for TFR is evaluated using Rényi entropy (RE). Experimental results for synthetic signals namely, multi-component amplitude modulated signal, multi-component linear frequency modulated (LFM) signal, multi-component nonlinear frequency modulated (NLFM) signal, multi-component signal consisting of LFM and NLFM mono-component signal, multi-component signal consisting of sinusoidal and quadratic frequency modulated mono-component signals, and synthetic mechanical bearing fault signal and natural signals namely, electroencephalogram (EEG) and bat echolocation signals are presented in order to show the effectiveness of the proposed method for TFR. It is clear from the results that the proposed method suppresses cross-term effectively as compared to the other existing methods namely, smoothed pseudo WVD (SPWVD), empirical mode decomposition (EMD)-WVD, EMD-SPWVD, variational mode decomposition (VMD)-WVD, VMD-SPWVD, and DMD-SPWVD.