Monopile offshore wind turbine (OWT) accounts for more than 65% of all OWT types. Monopile OWT is a soil-pile-tower system and can be divided into three stages: the stage embedded in the soil, the stage submerged in the seawater and the stage exposed to the air. Based on the improved Tajimi formulation and dynamic principle, this paper establishes a three-stage monopile OWT model to predict the dynamic response of the structure. The displacement of the tower under different wind velocities is obtained. The solution is compared with the Finite Element Method (FEM) result to verify its correctness. The influences of different parameters on the structure are discussed. The results indicate that the structure natural frequency is sensitive to the tower length and nacelle-rotor mass. The increasing seawater depth due to scour effect can significantly decrease the foundation stiffness. The influence of axial force and wave load on the foundation stiffness is also investigated. The tower diameter and tower wall thickness are found of vital importance to the tower displacement.